Pepsi and Coke take hammering in Mexico as junk food tax starts to bite | WHAT REALLY HAPPENED

Pepsi and Coke take hammering in Mexico as junk food tax starts to bite

Mexico has become one of the few places Pepsi and Coke have seen declining sales after the country adopted anti-obesity laws last year. Concerned over the losses the US beverage industry seems determined to stop similar legislation at home.

PepsiCo saw a 3 percent drop in snack sales volume in Mexico, while reporting a higher quarterly profit in global sales on Thursday.

Its main rival Coca-Cola has also reported beverage volume declines in the Latin American country for the first half of the year, AP reports.

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