agriculture food market: Nearly all fruit and vegetables consumed in Canada are imported, making them more susceptible to the loonie fluctuations. "It really boils down to the dollar," said Kevin Grier, an agriculture and food market analyst, according to Hamilton Spectator. Last year, fruits and veggies jumped in price between 9.1 and 10.1 per cent, according to an annual report by the Food Institute at the University of Guelph. The dropping dollar, which is hovering just above the 70-cent U.S. mark, is expected to continue to leave shoppers with bigger grocery bills, especially when it comes to buying fresh fruit and vegetables. The study predicts these foods will continue to increase above inflation this year, by up to 4.5 per cent for some items. These prices have been on the rise for years. Sylvain Charlebois, the report lead author, said for every U.S. cent the dollar drops, foods that are imported likely increase one per cent or more.
(www.immigrantscanada.com). As
reported in the news.
Tagged under agriculture food market, fruits veggies topics.
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