Mexico has removed the 20% tax on soft drinks sweetened with high fructose corn syrup (HFCS), a tax ruled illegal by the World Trade Organization. The Corn Refiners Association (CRA) said the tax had "closed the door" on U.S.-owned sales of HFCS to Mexico for more than four years. CRA estimated losses of $944 million in HFCS sales, equivalent to 168 million bu. of corn when the tax was in effect.
-- P. Scott Shearer, Washington, D.C., correspondent