Posted: Wednesday, July 31, 2024. 4:53 pm CST.
By Zoila Palma Gonzalez: Mexico’s largest corporations are increasingly targeted by drug cartels, who are now controlling the sale, distribution, and pricing of goods.
The issue was highlighted when Julio Almanza, head of the business chambers’ federation in Tamaulipas, was murdered just hours after denouncing cartel extortion on Tuesday.
In a recent development, Femsa, the company behind Oxxo, Mexico’s largest convenience store chain, announced the closure of all 191 stores and seven gas stations in Nuevo Laredo due to gang violence.
Femsa cited recent incidents where gang members abducted employees to act as informants as the breaking point.
Cartel violence has traditionally affected small businesses, but it is now impacting major players across sectors.
According to the Associated Press, the American Chamber of Commerce reported that 12% of surveyed companies are experiencing partial cartel control over their sales and pricing.
Cartels have also been involved in violent attacks and extortion, with companies spending significant portions of their budgets on security.
Femsa is working with authorities to ensure safety and plans to reopen its stores in Nuevo Laredo.
The expansion of cartel influence into legitimate businesses, including the manipulation of prices for goods like avocados and limes, underscores the growing challenge for Mexico’s economy.
Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Belize ~ We offer fully customizable and flexible digital marketing packages. Your content is delivered instantly to thousands of users in Belize and abroad! Contact us at mаrkеtіng@brеаkіngbеlіzеnеwѕ.соm or call us at 501-612-0315.
© 2024, BreakingBelizeNews.com. Content is copyrighted and requires written permission for reprinting in online or print media. Theft of content without permission/payment is punishable by law.
Comments
The post International News: Cartel extortion hits Mexico’s largest corporations appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Wednesday, July 31, 2024. 4:53 pm CST. By Zoila Palma Gonzalez: Mexico’s largest corporations are increasingly targeted by drug cartels, who are now controlling the
The post International News: Cartel extortion hits Mexico’s largest corporations appeared first on Belize News and Opinion on www.breakingbelizenews.com.
