This article examines the case of the Mexican ‘tortilla crisis’ of 2007. Drawing on reviews of literature and the media, key-informant interviews, and secondary databases, the authors explore the response of the Mexican maize–tortilla chain to a price shock. Price increases should theoretically be passed on to the consumer as a progressively less significant percentage of the overall price of value-added food products. However, in Mexico, price increases were magnified along the maize–tortilla production chain.