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What are the organizing principles that underlie and help shape farmers’ seed supply practices in the Central Valleys of Oaxaca? And what are the implications of these practices for maize genetic diversity and the introduction of improved varieties? Local maize seed supply was studied using both qualitative and quantitative methods and a series of factors that influence local seed supply was analyzed. Together they constitute a set of flexible and dynamic practices, which embrace both conservation and innovation aspects. Implications for on-farm conservation and introduction of improved varieties are discussed.