Food Prices: Canada China and Points Wednesday

food prices: The federal agency said real gross domestic product fell at an annualized rate of 1.6 per cent in the three-month period, due in large part to the wildfires that destroyed parts of Fort McMurray, Alta, according to Brandon Sun. That the biggest quarterly decline since the second quarter of 2009 when Canada was in the midst of the global financial crisis.___ Restaurateurs are crying foul over a second industrial milk price increase this year set to take effect Thursday, which they say will likely lead to higher food prices. Ambassador Guy Saint-Jacques highlighted those sticking points Wednesday after Chinese Premier Li Keqiang said Canada and China would soon launch a feasibility study on an eventual free trade deal.___ECONOMY POSTS WORST SHOWING SINCE 2009: The Canadian economy shrivelled in the second quarter to its worst performance in seven years, Statistics Canada said Wednesday. In July, the Canadian Dairy Commission decided to raise the price of industrial milk — which is processed into yogurt, ice cream, cheese and butter — by 2.76 per cent. The CDC said the hikes came because producer revenues "decreased rapidly" last fall, in part due to a decrease in global demand from importing countries and changing consumer preferences — and revenues did not stabilize by early spring as anticipated.___ China says it will lift a fast-approaching deadline to introduce rule changes on Canadian canola shipments that threatened to inflict damage on the multibillion-dollar sector. That on top of a 2.2 per cent hike that occurred in February. (www.immigrantscanada.com). As reported in the news.