👉Russia‘s invasion of Ukraine is already turning up the heat on commodity prices like wheat and oil, with experts saying a prolonged conflict could have a significant impact on food price inflation in Canada. 👉Russian attacks forced Ukraine to shut down its commercial shipping port Thursday, affecting the country’s major grain exports. Ukraine ships corn and barley to global buyers and also competes with Russia as a major wheat exporter in the continent. 👉Together, the two countries account for 29 percent of global wheat production, according to Reuters.✅ . . #foodprice #russia #ukraine #conflict #food

👉𝗪𝗶𝘁𝗵 𝗳𝗼𝗼𝗱 𝗽𝗿𝗶𝗰𝗲𝘀 𝗰𝗼𝗻𝘁𝗶𝗻𝘂𝗶𝗻𝗴 𝘁𝗼 𝘀𝗼𝗮𝗿, 𝘁𝗵𝗲 𝗚𝗿𝗲𝗲𝗻 𝗣𝗮𝗿𝘁𝘆 𝗼𝗳 𝗢𝗻𝘁𝗮𝗿𝗶𝗼 𝗶𝘀 𝗽𝗶𝘁𝗰𝗵𝗶𝗻𝗴 𝗮 𝗴𝗿𝗼𝗰𝗲𝗿𝘆 𝗰𝗼𝗱𝗲 𝗼𝗳 𝗰𝗼𝗻𝗱𝘂𝗰𝘁 𝗮𝘀 𝗮 𝘄𝗮𝘆 𝗼𝗳 𝗺𝗮𝗸𝗶𝗻𝗴 𝗲𝘃𝗲𝗿𝘆𝗱𝗮𝘆 𝗶𝘁𝗲𝗺𝘀 𝗺𝗼𝗿𝗲 𝗮𝗳𝗳𝗼𝗿𝗱𝗮𝗯𝗹𝗲. A grocery code of conduct tends to include language around how grocery chains interact with suppliers and what costs they can pass back to those suppliers. The idea isn't new; both the United Kingdom and Australia have voluntary codes of conduct, adopted in 2009 and 2015, respectively. In a press release, the Green party said a code of conduct would "protect farmers, local food producers and consumers."✅ . . #foodprice #groceyprice #kitchener #waterloo #guelph #dailynewscanada #candadianmallu #mnm #malayalisnearmeapp

👉Finance Minister Chrystia Freeland advocates for increased competition in Canada's grocery sector as consumers grapple with rising food prices, following higher sales and profits reported by major grocers Loblaw and Metro. Freeland emphasizes the need for significant changes to Canadian competition law to stabilize food prices, expressing willingness to utilize tax policy and all available tools. Loblaw's third-quarter profit rose to $621 million, and Metro's fourth-quarter profit increased to $222.2 million. As Canadians seek to save on food costs, both companies are converting stores to discount banners, experiencing higher sales growth in private-label brands. The federal government previously urged major grocers to stabilize food prices, but Conservative Leader Pierre Poilievre questions the efficacy of such efforts. The Competition Bureau underscores the importance of increased grocery sector competition to control food prices. Legislation strengthening the Competition Bureau's powers has been introduced in September, aiming to enhance market studies and prevent collaborations detrimental to competition.✅ . . #GroceryCompetition #FoodPrice #CanadianEconomy #CompetitionLaw #TaxPolicy #ConsumerCosts #InflationChallenge #mnm #malayalisnearmeapp #canadaupdate #canadanews

👉A new survey suggests a growing number of Canadians are struggling with the rising cost of food as prices for basics like pasta, bread and meat all soar. It also found that one in five Canadians reported going hungry at least once between March 2020 and March 2022.✅ . . #costoffodd #foodcost #livingexpense #foodprice #hungry #dailynewscanada #candadianmallu #mnm #malayalisnearmeapp

👉Canadian food suppliers are once again issuing notices to grocery retailers informing them of upcoming price hikes. The letters signal more price increases will hit grocery stores this fall in a year that has already seen nearly double digit increases in food costs.✅ . . #groceryprice #Canadianfoodsuppliers #groceryretailers #Canadafoodindustry #Foodprice #dailynewscanada #candadianmallu #mnm #malayalisnearmeapp