Written by Veronica Martinez

The canned tuna price increase has caused Mexicans to reduce their purchases of this product. Low sales have already been recorded, according to data from the Bank of Mexico and from the consulting firm AC Nielsen.

From January to December last year, the national inflation for canned tuna was 14%. AC Nielsen’s latest report shows that unit sales of this item dropped by 8% from February to November 2008 compared the same period of 2007.

According to information from the Mexican National Chamber of the Fishing Industry (Canainpes) steel prices have also put pressure on the canned tuna production prices, reflecting on the consumer price increases.

Figures from the Bank of Mexico show that the national inflation in 2008 for canned tuna was the highest since 2004, when the increase was 20 percent, while it was 5% the following years.

The report indicates that as of last year April, Mexicans began to resent the canned tuna price increase, because of the 3% rise that month, compared to March prices.

And although the tuna canning industry signed an agreement, in June, to maintain prices to consumers, prices continued to rise; reason why Mexicans reduced their consumption.

AC Nielsen’s latest report shows that the food product that experienced the largest drop in sales from February to November 2008 was tuna.