Food prices holding steady at Toronto's main market, distributor says
Last Updated: Friday, April 25, 2008 | 3:17 PM ET
CBC News
Ontario consumers have been largely shielded from the sharp rises in food prices that have caused so much trouble in many parts of the world, according to a food distributor in Toronto.
Prices overseas have been skyrocketing, with the blame put on surging fuel and fertilizer costs. But at the Ontario Food Terminal in Toronto's west end — the largest market and distribution centre for fruits, vegetables and other produce in the country — costs are holding fast, said Richard Rose, a seller for Gambles Ontario Produce, a major produce wholesaler.
Prices set at the Ontario Food Terminal can determine prices for all of Canada.
"Isn't it amazing that everyone is publicizing that the price of food has gone up? But we're not seeing it reflected in our market here. I haven't noticed a price increase yet," Rose told CBC News on Friday morning.
Rose said that doesn't mean Canadian prices are immune from the world crisis, though. "So we do expect to get some price increases, but goodness, we're selling grape and cherry tomatoes for $16 this morning. We sold them three years ago for $16."
The cost of food increased by about 40 per cent worldwide from mid-2007 to April 2008. Economists are blaming the price surge on natural disasters, high fuel costs, the low U.S. dollar and the demand for ethanol-based fuels.
But Canada largely hasn't seen the spike in prices experienced in other parts of the world, though a wheat shortage has increased the price of flour and flour-based goods and rice prices have climbed in parts of the country. In some cases, the high Canadian dollar has offset increases in prices of imported foods.
