Canadian shippers feeling effects of weakening dollar
Canadian wholesalers in some markets are particularly feeling the pinch of the low Canadian dollar, one that fell this week to its lowest level in just over four years. “It means there are high prices for us and it’s hard to move product,” says Mike Soufan with Freestone Produce, Inc.
He also notes that where Freestone Produce is located–in Calgary, Alberta–some see produce, and fruit especially, as more of a luxury item when it comes to doling out dollars. “If they can afford to buy it, they will but they don’t always buy it,” says Soufan. “Calgary has a high new immigrant population and people are watching every dollar here.”
That’s particularly so on some items that may not be produce staples in all households such as blueberries. Instead, Soufan says movement is then only seen if they’re lower in price. “The challenge is that the people in the U.S. don’t understand what we go through. If I pay US$10/box, that’s CDN$15 and that is without the freight,” he says, adding that he’s feeling it is increasingly challenging due to the weaker Canadian dollar.
To read the full article, please visit Canadian shippers feeling effects of weakening dollar. Published on November 27, 2024.