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February 10, 2007
Hoarded Corn Recovered
An article in the Wednesday, 7 February edition of El Publico reported that 118 thousand tons of hoarded corn were found hidden in storehouses throughout the state of Jalisco. This is the first case where hoarded corn has been recovered since the federal government announced that it will prosecute anyone hoarding or speculating on corn, in response to the high inflation that has recently plagued the Mexican corn market.
The article mentions that the two businesses involved in the hoarding were Accel S.A. and Dekalb.
Under the Federal Penal Code of Mexico, those found guilty of hoarding or speculation can be sentenced to up to 10 years in prison.
Posted by crispy at February 10, 2007 08:58 PM
Comments
They sure take hoarding porn seriously down there.
Man. 118,000 tons of porn. That's 236 million pounds of porn!
Posted by: Mark Allen at February 11, 2007 08:25 AM
What's this about WHORES and actor RIP TORN?
Posted by: Jon at February 13, 2007 12:18 AM
That is also a lot of pone.
How do you "hoard" corn? Didn't Econ 101 teach us that storing corn at harvest for use throughout the year was a normal function of the market.
[crispy says: I suspect there are guidelines that dictate what is the difference between storing and hoarding; in this case, it was an organized effort for the purpose of raising prices, kept secret.]
Posted by: John Coen, the older at February 13, 2007 05:25 PM