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Fall of Canadian dollar has limited impact on fresh produce consumption
Although Canada produces its own fruit and vegetables, the country largely depends on imports from other countries for its fresh produce consumption. The majority of fruit available in Canada is sourced outside the country, with the US supplying about half of total fruit imports. Other sourcing regions include Mexico, South America and Europe.
Canada’s domestic vegetable production on the other hand is more significant, but import volumes still exceed export volumes. About three quarters of imported vegetables are sourced in the US.
Exchange rate is just one variable impacting price
Due to the fall of the Canadian dollar versus the US dollar and the Euro, imported fresh produce has become more expensive. “Nevertheless, we haven’t seen a significant price increase and don’t notice any impact on fresh produce consumption,” says George Pitsikoulis with Canadawide. “The exchange rate is just one variable out of many that influences the price of produce. Last year, the exchange rate was more favorable for Canada, but the cost of freight was a lot higher due to high fuel prices. In addition, pricing largely depends on supply and demand of the individual item, but consumers easily adjust their purchase decision,” added Pitsikoulis. “If broccoli becomes too expensive, they will buy an alternative like cauliflower unless people strictly follow a recipe or diet.”
Value decrease of Canadian dollar relative to US dollar and Euro
Impact on clementines from Spain
“We may see some impact on our clementine program from Spain,” declared Pitsikoulis. The value of the Canadian dollar decreased 12 percent relative to the Euro in the past five months. In addition, Spain dealt with an early bloom drop, so its clementine volumes are down. “We will still have promotable quantities, but the promotions won’t be as aggressive,” Pitsikoulis finished.
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