The Mexican government has signed an agreement with the country's rice farmers that will guarantee consumers will get the new 2007-08 crops at a discount.

According to the pact, the Mexican rice producers have pledged to sell the upcoming rice harvest to the rice processors at a 10% discount to the international prices as long as the companies ensure that discount is transferred to the end-consumer.

The agreement is extended to include both harvests in the 2007-08 crop year, which starts with the 2007-08 fall-winter output for which harvest has recently started, and the 2008 spring-summer production that will be harvested in the fall.