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Cinco de Mayo highlights popularity of Mexican Beer
Few Americans know a lot about the 1862 battle being commemorated Thursday on the Mexican holiday of Cinco de Mayo, but plenty can name a Mexican beer to celebrate it with.
Whether the blockbuster Corona or emerging brands such as Dos Equis and Tecate, Americans' familiarity with Mexican beer has been noted by economists who point to the relaxation of tariffs under the 1994 North American Free Trade Agreement as the foundation of their success.
"Latin beer is hot," said Marc Scheinman, an international marketing professor at Pace University.
Grupo Modelo's Corona ranks seventh in U.S. beer shipments, long outranking Heineken as the top imported beer in America. Modelo has increased its exports to the United States by 30 percent a year.
Fomento Economico Mexicano SA, Mexico's other main beer company, is gaining market share with brands that include Dos Equis, Tecate and Bohemia.
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