Coca-Cola Chairman and CEO Muhtar Kent committed to tripling the company’s purchases of concentrate orange juice in Argentina over the next 10 years during a meeting with President Mauricio Macri.
Coca-Cola currently purchases 5,000 tons of juice concentrate per year and plans to exceed 15,000 tons by 2025.
Kent also shared plans to collaborate with the National Agricultural Technology Institute (INTA) to strengthen the country’s citrus industry by working with orange and grapefruit suppliers to drive efficiencies throughout the value chain.
Coca-Cola is Argentina's top fruit juice buyer. In 2014, the company purchased $245 million in locally produced juice and byproducts, totaling more than 37,000 tons of juice concentrate and high-quality orange, lemon, grapefruit, apple, grape, pear and peach byproducts.
During his visit, Kent announced the signing of a memorandum of understanding (MOU) with the organizing committee of the Buenos Aires 2018 Youth Olympic Games to support recycling and water stewardship initiatives.
He also reiterated Coca-Cola’s focus on sustainable development across a variety of sectors. The company will work with local organizations to develop women’s empowerment initiatives, investing USD $500,000 over the next three years in leadership and entrepreneurship programs reaching 25,000 female retailers, artisans and recyclers.
Coca-Cola has operated in Argentina for 74 years and currently operates 10 production facilities. The Coca-Cola system, comprised of the company and its four bottling partners, creates more than 240,000 jobs in the country, including direct, outsourced, value chain and marketing positions.