Mexican Food Producers, Retailers Sign onto Anti-Inflation Plan

More than a dozen Mexican foodmakers and retailers have signed onto an anti-inflation plan to keep prices of basic foodstuffs affordable, Mexican Finance Minister Rogelio Ramirez de la O said.

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Mexican flag
(Farm Journal)

More than a dozen Mexican foodmakers and retailers have signed onto an anti-inflation plan to keep prices of basic foodstuffs affordable, Mexican Finance Minister Rogelio Ramirez de la O said on Monday. Companies including Walmart, tortilla maker Gruma and egg and chicken producer Bachoco are part of the deal, which will waive certain import requirements, Ramirez said. As part of the agreement, the Mexican government will deliver special universal licenses to companies that will exempt them from carrying out some procedures, requesting permits, undergoing verification acts and paying taxes for the importation of both goods and food, among other measures. The government also announced additional measures that include the temporary cancellation of exports of goods such as white corn, beans, sardines and steel, as well as the freezing of highway tariffs until February 2023.

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