September 10/Business Monitor International Ltd. -- As politicians in the U.S. weigh up proposals for a "lifestyle tax" on unhealthy food and drink products, politicians in Mexico are outlining plans for new food and drink taxes designed to offset declining revenues, while at the same time encouraging consumers to opt for healthier options. The proposals cover products across the food and drink industry and could impact the results of Mexico's biggest food and drink companies, including bakery giant Bimbo and soft drink producer Coca-Cola Femsa.
The problems associated with obesity are increasing throughout Latin America due to dietary changes brought about by increased wealth, urbanisation and the growth of supermarkets. Mexico has been particularly affected, with figures from the World Health Organization suggesting that the country has one of the highest prevalence of obesity for both males and females anywhere in Latin America. This is partly due to the fact that processed food and drink products from multinational firms have been available for many years thanks to the close proximity of the U.S. and is reflected in the fact that per capita consumption of soft drinks is the highest anywhere in Latin America.