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Andrés Manuel López Obrador of the the leftist Morena party governs with a strong political mandate, as a Morena-led coalition has a majority in both houses of Congress.
A hard Brexit and an escalation of EU-US trade disputes are downside risks for export-dependent food companies in the olives/olive oil and meat segments.
Despite efforts of food exporters to diversify shipments away from Britain a hard Brexit remains a major threat, potentially leading to more insolvencies.
In the Belgian food retail segment a comprehensive price war cannot be ruled out for the future, potentially forcing many businesses out of the market.