The weak dollar and your vegetables
Canada was already low on grain supplies because of a poor harvest in 2021. Last year brought a bumper crop on the Prairies, but shocks like the one that followed Russia’s invasion of Ukraine don’t immediately show up up on grocery shelves — and once they do, it takes time for prices to come back down.In other words, there’s always a lag between changes on the ground and retail prices.
Food processors can also opt to lock in prices of the ingredients they need through futures contracts, where the farmer promises to provide a certain number of bushels, say, at a certain time and the buyer garuantees a price. If a tomato sauce manufacturer signed a contract for tomatoes when the market price was high, consumers won’t feel the impact of that until the tomatoes are delivered, the sauce is made, and the manufacturer can negotiate a price increase with the grocery chains.
In the last year or so, food brands have been constantly pushing grocers to pay more for products, which they say is needed to cover the rising cost of fuel, freight, labour and commodities during the inflation surge. But the top Canadian grocery chains — Loblaw Cos. Ltd., Sobeys’ parent Empire Co. Ltd. and Metro Inc. — say they have pushed back, forcing brands to justify every increase and refusing to pay more if they don’t believe it’s justified.
financialpost Greed
financialpost Because its monopolgy, and their price gouging that's why
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