Tortilla Merchants Freeze Prices after Meeting with AuthoritiesBy Elliot Bullman
After a meeting with the Secretary for the Economy merchants decided to maintain current prices, under the promise that they will receive support to reduce their operating costs.
Tortilla producers warned that in the next few days they could raise the price of the tortilla – the staple diet of Mexicans by upto 20% in the face of increases in inputs such as corn, energy and fuels.
But after a meeting on Thursday with the Ministry of Economy they decided to maintain prices, under the promise that they will receive support to reduce their operating costs.
Homero Lopez, President of the National Council of Tortilla said that the meeting was to find a bottom-up solution that they finally got.
Details of his organisation’s response which represents 80% of the country's tortillerías, will follow this week he confirmed on Friday.
The price of the tortilla increased close to seven percent in the first 11 months of 2017. Currently the weighted price is 14.01 pesos per kilo, according to official figures.
Increasing the price of the tortilla is a highly sensitive matter in Mexico, especially in the midst of the rebound in inflation that has climbed to levels not seen for 16 years which currently sits at 6.69%.
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