Mexico: Call for sanctions for speculators of lime prices

The chairman of the committee of agricultural development and water resources of the state Congress,…

The chairman of the committee of agricultural development and water resources of the state Congress, Hector Pedraza Olguin, disapproved of the more than 60 percent general increase in the price of lime. In some places, lime prices increased by 300 percent, as the kilo went from 12 pesos in January to 36 pesos in March.

The legislator said that, even though the product offering was limited, there were traders who were trying to make a profit without regard to consumers and increased the products' price, thus severely affecting the final consumer.

"Some speculators take advantage of this situation to easily enrich themselves at the expense of others."

According to Pedraza Olguin, it's necessary to take measures because the lime is the main citrus used to add flavor and combined with various foods in Hidalgo. Additionally, he added, the Mexican countryside's continuous production of the inputs required by the agricultural sector should be ensured.

Hector Pedraza asked the Federal Consumer Protection Agency (Profeco) to monitor and to conduct checks so as to detect irregularities as well as the indiscriminate sales of this product and to impose appropriate sanctions if they find traders are increasing prices with the intention of profiting.

Pedraza said it was normal for citrus prices to increase in the first quarter of the year, as this was the moment when production decreased in the year. He also said prices should start to decrease in the first half of May when there is a peak in production in Michoacan, Colima, Oaxaca, Guerrero, and Veracruz.