The expansion of the Package Against Inflation and Famine (Pacic) is “adequate”, but the participation of more companies must be sought and not just limit it to the 20 that have signed it, since its impact could be reduced.
This was stated by Francisco Cervantes, president of the Business Coordinating Council (CCE), after pointing out that it is not with 20 companies that the greatest effect of containing inflation will be achieved, which is why they will seek a meeting with the Secretary of the Treasury, Rogelio Ramírez de the O
We are going to request that all companies be included, to have a greater reach throughout the country and then it will have the expected impact. The moment we enter the organizations, it automatically becomes transversal”, he said, interviewed in the framework of the start of the third stage of the labor reform.
In turn, Eduardo Medina Mora, president of the Employers’ Confederation of the Mexican Republic (Coparmex), maintained that, although it has been important to maintain dialogue with the federal government, it is necessary to review pending issues such as the case of the participation that Senasica or Cofepris will have –in phytosanitary matters.
This is due to the fact that one of the points of reinforcement of the Pacic is the possibility that it opens so that marketers can import food by taking charge of phytosanitary inspections, and thus speed up the importation of product.
Medina Mora stressed that although inflation is at 8.7%, which is high, without the Pacic it would be up to 12 percent. “Without the Pacic we wouldn’t be less than 10%,” she said.
Although it is expected that with this type of action little by little inflation will begin to decrease, “we will still see high inflation next year, it would not be until 2024 that inflation will be lowered to Banxico’s goal.”
In tortilla, only 40% participate
Interviewed separately, José Cacho, vice president of Grupo Minsa, highlighted that they are one of the two companies in the corn flour industry that signed the Pacic, although there are eight other smaller companies that are also important, above all because they must involve the entire chain so that there is a favorable impact on price containment.
“The most important thing about this is that in the specific case of tortillas, corn flour represents only 40% of the consumption of raw materials to make tortillas, the other 60% is made with corn and that is the part of the chain that is not involved.”
He explained that although “for now it is manageable” in the short term these containment in prices is essential to review the impact of the next harvests in the corn flour business. “The fact that we maintain a price for flour does not mean that the cost of tortillas will not increase, especially because tortilla makers have other important costs there.”
Cacho highlighted two pending issues in the implementation of the Pacic, one of them has to do with free importation, “in the agreement we have the agroindustry, but also service companies (those affiliated with ANTAD) and we do not know if self-service stores can carry out the importation from countries where there is no phytosanitary control; if we bring a plague, it can be more expensive for us than the benefit it could have of containing inflation”.
The second case has to do with the fact that, as proposed by the National Agricultural Council (CNA), each link in the commercialization is analyzed to see the costs that are impacting final prices.
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