Mexico’s economy secretary said he was confident tortilla prices would fall after they grew way higher last year because of the worldwide demand for corn. The tortilla prices will start to fall next month, finally. Tortilla prices have risen as much as 14 percent in the past year and caused protest by unions and opposition leaders.
716,000 tons of corn will be imported to Mexico to lower the tortilla prices, but the corn will not get to Mexico until February 16. “ We are hoping the corn market will stabilize within the next three weeks from that date” someone said during a business convention.
On Monday, President Felipe Calderon met with economy officials to continue the strategy employed to stabilize the tortilla prices. The federal government’s antitrust watchdog first said last week that it was investigating accusations that companies were controlling corn prices and colluding to limited supply.
The Mexican Government wants the tortilla and milk prices throughout mexico to stay stabilized, because they are a need to most Mexicans.
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