Rising Dollar Leads to Higher Meat Prices in Mexico

165

With the dollar slowly regaining its strength against the peso, consumers in Mexico are experiencing increasing prices for chicken, fish, and meat, reports Julián Palombo Saucedo, president of Tijuana’s Chamber of Commerce for Tourism and Services.

Palombo explains that currency fluctuations impact import costs: “If the dollar weakens, the cost to import goods decreases. But as the dollar strengthens, prices rise — which is happening now.” He noted that overall import costs are climbing due to the stronger dollar.

Residents in Tijuana and similar cities are noticing that meat, poultry, and fish, particularly salmon, are more expensive compared to a month ago.

The peso’s value against the dollar has decreased, trading at approximately 16.9 per dollar in early June according to Banxico, Mexico’s National Bank. By Wednesday, it had fallen to 18.38 pesos per dollar.

Palombo points out that this trend benefits Southern California shoppers in Tijuana, as their dollars now have more purchasing power. However, locally grown produce prices are expected to remain stable, unlike imported food items.x