Mexican green tax distorting agchem market
Mexico’s “environmental tax” is causing doubts and distortions in the nation’s billion dollar pesticide market, according to the president of the national crop protection association, the Proccyt, Froylan Avendaño Rey. The leader is quoted in the business newspaper, el financier. The country imposed a tax at the start of the year designed to encourage sales of “natural pesticides”. But the tax has raised just 32 million pesos ($2.5 million at the current rate) in revenue in the “early months” of the year, and businesses are seeking its repeal.