Mexicali producer debt of about $17 million with Mexican banks was addressed days ago along with lawmakers.

La Voz newspaper reported that wheat and cotton producers amount around two thirds of that debt.

Producers told lawmakers that bank lawyers had attempted to reach agreements while charging hundreds of dollars in order to stop collection efforts.

Also, those cases have been turned to the state Center of Alternate Justice where no update has been reported although about a fifth of the debt has been paid.

According to a producer this years-long debt has been incurred to pay for fertilizer, machinery and interests.

Another producer said a letter was turned to the Governor’s office to stop collection efforts. The producer said debt was sold to third parties.

Producers asked authorities to address the issue by enacting several programs including credit lines for debt repayment.

Assemblyman Manuel Guerrero Luna said before thinking of additional financial support wheat must be sold at international prices.

Bank representatives offered a program that cancels all interests and allows producers pay a tenth of debt and sign four-year payment agreements. However, producers must comply with several other requirements.

Leave a Reply

Your email address will not be published. Required fields are marked *