SPOTLIGHT
2 • The peso drops The day before the election, 1 USD cost 16.97 pesos. Within a week, the exchange rate had hit 18.32 pesos and has been dropping ever since. With around 75% of Mexico's bean imports coming from the USA, cross- border imports quickly became more expensive for Mexican importers, putting U.S. exporters under pressure. 3 • Trade view Cristobal Lopez of Comercializadora Los Arbolitos says the behavior of the peso will be "fundamental" to bean prices this year: "Further drops would cause bean prices to decrease in both the USA and Mexico. The upcoming Mexican harvest, which looks to be between good and excellent, could also mean prices fall even further." 4 • Rebound & reform The peso rallied on September 11 ahead
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