Tortilla Prices Under Wraps

In an announcement that spooked the markets at the end of last week, the head of two tortilla industry bodies said that the price of corn could increase over the next few weeks by up to 41.2%. While these comments have been played down by other industry bodies and the government, we warn that an acceleration of maize - and general food - prices could have a major impact on social stability. As such, we expect the government to work to prioritise the stabilisation of maize prices over the deleterious fiscal implications.

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