U.S.-based Kellogg became the latest multinational to pull out of Venezuela due to the oil-rich country’s economic crisis, the latest business to end operations in the oil-rich nation heaving under hyperinflation and strict price controls.
“In December of 2016, Kellogg deconsolidated its Venezuela business from the company’s results. The current economic and social deterioration in the country has now prompted the company to discontinue operations,” Kellogg said in a statement.
Corn flakes is not complicated: You get the corn, you press the corn, you add vitamins and minerals to the corn, you bake the corn, you package the corn.
Simple, right? Yet, The Venezuelan Revolution and Full Fledged Socialism has managed to make those simple tasks impossible.