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Coca-Cola Femsa Hit By Mexico Junk Food Tax

Coca-Cola FEMSA, the world's largest independent bottler of Coca-Cola , announced its second-quarter results citing weak volume which the company suggests is the result of a controversial food tax passed last year in Mexico when the country's legislature passed a 5% tax on "junk food" and a 1 Peso (roughly $0.08 U.S.) per liter tax on soda. The purpose of the tax is to curb soda consumption, where according to the Organization for Economic Development Co-Operation and Development, some 69.5% -- compared to the U.S.' at 69.2% -- of the total population over the age of 15 is either overweight or obese. That ranking gives Mexico the dubious distinction of being the country with the worst weight problem in the world. (TheStreet.com)