My friends and I were discussing on O2 deficiency in plant. By reading on a lecture note, this question was popped up and we got stuck for the discussion.
In plants latic acid fermentation takes place in low(hypoxic)and zero(anoxic )conditions of oxygen. Low diffusion of oxygen to the root cells takes place when the roots are immersed in the water logged conditions. The latic acid formed as an end product results in the acidification of cytosol. ethanol formed by fermentation can easily diffuse out of plant cells.
In general, anaerobic respiration generates only 2 ATP, while aerobic respiration generate 36 ATP per hexose sugar. Low energy efficiency production is major constraint. With susch a low ATP produced, the plant becomes weaked. Furthermore, ethanol and latic acid fomulated from anarerobic process may become toxic and harm the cells, especially if the enzyme Alcohol dehydrogenase (ADH) not functioning well.