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Coca Cola Drinks Sri Lanka mentioned it’s placing a family-sized glass bottle again in the marketplace to encourage reusable packaging and help shoppers within the forex disaster.
The Massive Buddy Pack branded 750ml glass bottle is priced at 180 rupees, in comparison with 150 rupees for a 400ml PET bottle and 380 rupees for a 1.5 litre pack at supermarkets.
Sri Lanka is at the moment experiencing the worst forex crises within the historical past of its intermediate regime central financial institution.
Sri Lanka’s rupee collapsed from 200 to 360 to the US greenback in 2022, triggering financial instability.
Each time Sri Lanka’s central financial institution prints cash to maintain rates of interest down working a coverage charge, it collapses the forex and triggers excessive inflation destroying individuals’s actual revenue.
Annual inflation is now working at round 70%. Meals costs, which reply sooner to cash printing, are as much as over 90% over the past 12 months.
Panjak Sinha, Managing Director of Coca Cola (Sri Lanka and Maldives), mentioned: “There may be shrinkage in client spending and individuals are making selections.
“It’s inexpensive in these making an attempt occasions and is differentiated with a novel refillable glass bottle, paper labels and aluminium cap.”
Regardless of the most recent bout of financial instability, the agency has no plans to depart the nation.
The agency mentioned it had invested $99 million within the nation within the final decade and has constructed distribution community with 80,000 plus retailers.
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