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Mexico hedges against corn inflation
Financial Time, London Dec 23, 2010
Financial Times reports:
"Bruno Ferrari told local media on Wednesday the government had bought futures contracts to fix the cost of corn. “The prices are guaranteed,” he said. “The supply is also guaranteed ... until the third quarter of the next year.” A government official confirmed his comments.
Mexican tortilla makers threatened last week to raise prices by 50 per cent to offset the impact of higher corn and natural gas costs. That has prompted fears of a repeat of the tortilla riots of 2007, when protesters demonstrated against rising food prices."
Full story:
http://www.ft.com/cms/s/0/7fc26d7c-0e02-11e0-86e9-00144feabdc0.html#axzz18vkLQsWQ
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