Mexico waives import duties on food items to curb inflation

Mexico waives import duties on food items to curb inflation

Mexico waives import duties on food items to curb inflation

Mexico’s government has announced a plan to waive import duties for one year on a range of household staples, including food items such as apples, lemons and oranges, in a bid to curb rising inflation.

According to a report in Reuters, the government unveiled the plan in its official gazette after earlier this month agreeing with businesses to increase production of staples such as corn, rice and beans to control inflation, which is at an over two-decade high. read more

The products on the government import list included corn oil, rice, tuna, pork, chicken, beef, onions, jalapeño peppers, beans, corn flour, wheat flour, eggs, tomatoes, milk, lemons, white corn, apples, oranges, wheat and carrots.

Bread, potatoes, pasta for soup, sardines, sorghum and hand soap were also listed in the government decree. Duties would also be suspended on imports of live cattle, pigs, sheep, goats and chickens, it said.

The government said the waiver on the household staples would take effect from Tuesday and be in force for a year. The waiver on livestock would enter force pending the approval of Mexico's foreign trade commission, it added. The measures could be extended for another year, it added.

To read the full report, visit Reuters.com.

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