Members of Jalisco’s Chamber for the Food Industry (CIAJ) have publicly expressed their concerns over a persistent rise in the price of sugar throughout the country. Over the last year the staple’s price has increased by 57%, with a sharp 13% spike in the last month. The industry group has accused sugar producers of speculating and hoarding their production, while also calling on the Economic Secretary’s office to ease the government’s import restrictions, allowing local candy makers to access cheaper sugar from abroad.
The CIAJ points out that international sugar prices have remained at around 50% of current prices in Jalisco’s market, at $520 pesos (about $30 US) compared to Mexico’s $725 peso ($40 USD) peak. In response to this difference the organization has formally requested competition watchdog COFECE to begin a new investigation into the sugar industry.
“We have sent a few letters and e-mails. Besides, as legitimate businesses we ask and demand that the matters be resolved” said Cesar Buenrostro, a CIAJ member. Only last month Mexico’s competition regulator issued an $89 million peso fine on several sugar makers over monopolistic arrangements.
Full Content: Milenio
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Hermes Fights Back Against ‘Far-Fetched’ Birkin Bag Lawsuit
May 9, 2024 by
CPI
European Music Streaming Firms Rally Against Apple’s Proposed Remedies
May 9, 2024 by
CPI
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI