Photo: Chung Chow, BIV
A worker puts plant-based foods in containers at Big Mountain Foods in Delta
Canadian grocers are generating record profits while food manufacturers are racking up losses, according to recent reports.
The industry association BC Food and Beverage released a report and infographics this morning to highlight how its members on average are enduring tough times. This follows the Centre for Future Work’s report in December, which found that Canadian grocers were making record profits predicted to be more than $6 billion, up eight per cent year-over-year.
BC Food and Beverage broke down $100 in grocery spending to show where the money goes.
It found $68.24 of that $100 went to food costs from manufacturers: $14.29 for input and supply-chain costs, $21.99 for labour costs and $23.28 in other food manufacturers’ costs. In that infographic, $8.68 was not accounted for. Food manufacturers’ net income on that $100 basket of food, however, was a $6.38 loss, according to BC Food and Beverage.
Grocers, in contrast, were making a $4.29 profit from that $100 food basket, while another $27.47 went toward what BC Food and Beverage called “other grocery retailers’ costs.”
BC Food and Beverage cited various Statistics Canada data points as its source in creating the information about the $100 food basket.
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