BOLIVIA: Edible oils resist recession

In spite of Bolivia's ongoing economic crisis, Fabricas de Aceites Fino , one of nation's leading producers of edible oils, hopes to achieve the same level of production and sales that it experienced during 1999. This would be a major achievement given the fact that most companies in Bolivia's food and beverage sectors suffered sales setbacks in the range of 5-10% during the first half of 2000. The company got off to a good start, however, with 11,000 metric tonnes produced during the first quarter of this year. Not only is Aceites Fino battling weak consumer spending at home, but it is also faced with unfair competition from oils illegally imported from Argentina and Brazil. Contraband oils account for an estimated 15% share of Bolivia's edible oil sales. Management from the company is currently pressing the government to crack down on smugglers and eradicate corruption among customs officials. In order to stimulate sales during the remainder of the year, Aceites Fino is offering special a promotion on all three of its Fino brand oils. With the purchase of two large bottles or one bulk container of oil, plus US$1.60, consumers receive a Teflon frying pan.SOURCE: includes information from the article "Aceites Fino mantiene niveles de producción y comercialización", Los Tiempos (19 September, 2000).