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Mexico: Authority warns tortilla industry against price-fixing agreements

By  |  February 19, 2016

Mexico’s Federal Competition authority (COFECE) has issued a warning to the country’s corn flour and tortilla industry regarding possible price-fixing agreements. The competition watchdog remarked that such agreements are in violation of the country’s Federal Competition Law and could be considered serious crimes.

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    COFECE called on the sector’s Industrial Chambers to “prevent the design of rules which dissuade associates and members of the Union from competing with one another, and to avoid suggesting, recommending, supporting, discussing or facilitating the exchange of information that may result in a collusion agreement.”

    Faced with a recent spike in tortilla prices in Northern Mexico, agricultural secretary José Calzada declared that “there is no reason for tortilla prices to go up. Mexico is self-sufficient in white maize and, in fact, we have seen a surplus of this grain.” Mexico’s production of corn for human consumption registered an important bumper in 2014-2015, with an 11.5% increase totalling over 25.3 million tonnes.

    Full content: El Economista

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