Feb 24, 2021

Mexico Presses Ahead with GMO Corn Ban

Executive order aims to replace 16 MT of imported yellow corn imported with local production by 2024

source: U.S. News & World Report

Mexico is sticking to a plan to stop importing genetically modified corn and a ban on a widely used herbicide, a senior official told Reuters, doubling down on a policy that has pleased green advocates but alarmed industry leaders, reports U.S. News & World Report.

The plan announced late last year by executive order aims to replace some 16 million tonnes of yellow corn imported mostly from U.S. farmers and nearly all of it genetically modified, with new, local production by 2024. The imports represent more than a third of the country's demand for the grain, and mostly feed Mexico's large livestock industry.

Victor Suarez, the deputy agriculture minister, argued that GMO corn and the herbicide glyphosate are too dangerous and that local output and sustainable "agroecological" practices must be prioritized.

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Marketwatch: Feb, 01

US Corn Price Idx: ZCPAUS.CM

open: 6.8325
high: 6.8875
low: 6.7808
close: 6.8028

US Soybean Price Idx: ZSPAUS.CM

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close: 14.969

US Hard Red Winter Wheat Price Idx: KEPAUS.CM

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low: 8.2167
close: 8.374

US Soft Red Winter Wheat Price Idx: ZWPAUS.CM

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low: 6.8905
close: 7.0099