Mexico Government imposes 50% tariff on white corn imports
Mexico Government has imposed a 50 percent tariff on the imports of white corn, as of Tuesday, with an aim to maintain the production of the grain in the country and stop inflation in the prices of tortilla.
The decree was published on Monday evening in the Official Gazette of the Federation after being issued by the government. The government maintained the zero percent tariff for grain imports.
The new tariff has been imposed until June 30. It is important to ensure a sufficient supply and maintain the national production in the country, the government said in its decree.
White corn is a basic food product in Mexico, providing an important source of caloric energy in the Mexican diet and having an annual per capita consumption of 332 kilograms, according to the 2021 Agri-Food Panorama reports.
This step has been taken in order to stop the rising inflation of tortilla prices, which have gone from 20 to 25 pesos (1.07 to 1.3 dollars) per kilogram in various states of the country in the past few weeks. The Mexican government hopes to stabilize these prices with its both tariff decisions.