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The price of tortillas is on the rise in Mexico, nearing twenty pesos (approximately $1) per kilogram in some parts of the country nearly double last year’s going rate. Skyrocketing corn prices are to blame: according to MarketWatch, the cost of corn has risen by 30 percent so far this year. Corn tortillas are just one part of a system built on corn, and Mexico gets 96 percent of its corn from the U.S. Corn is in almost all processed food products. Soybeans and wheat have also reached their highest prices since 2013.
The ramifications are considerable, not just for tacos but for consumers in general. Ed Moya, senior market analyst at OANDA, a trading, currency data, and analytics solutions firm, told
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