Cargill, Mexico Settle Trade Dispute over Corn Syrup

Cargill, Mexico Settle Trade Dispute over Corn Syrup

 

 

Cargill Inc. has long claimed that Mexican free trade barriers have hurt its high fructose corn syrup business.  In 2009 an international arbitration panel concluded that Mexico had breached the North America Free Trade Act through trade barriers that raised the price of corn syrup.  Cargill was awarded $77.3 million and an additional $2 million for costs.  Mexico appealed to a court in Canada which upheld the decision in favor of Cargill.   In December Cargill claimed in a New York court that the Mexican government failed to pay the award amount which has grown to $94.6 million with interest.  As of February 22nd Cargill states that the matter has been resolved.

 

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