:. Food Industry News


Mexican Gruma's Derivatives Hit by Peso Slump

Source: Reuters
13/10/2008

Mexico City, Oct 13 - Mexican tortilla maker Gruma warned on Monday its foreign exchange derivatives position suffered millions of dollars in losses as the peso currency slumped last week.

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Gruma said its derivatives positions had a loss of $684 million as of Oct. 8, compared with a loss of $291 million at the end of September.



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