Drought conditions in the US leading to higher food prices in Canada
Posted by news | Filed under All News Stories, Business, Durham, GTA, Toronto
A leading bank economist is predicting food prices could rise up to 3.5 percent this year and as much as 4 percent next year. That’s because of drought conditions in the US that are causing corn and soybean crops to wither. Because corn is used to feed american livestock, Scotiabank’s Patricia Mohr says the rising cost of beef and pork will be most noticeable on grocery store shelves.
