'It's all caught up to us now': Low Canadian dollar hits locally owned grocery store
CTV
The Canadian dollar is at its lowest level since May 2020, with $1 CAD converting to $0.71 U.S. That means purchasing produce from the states is more expensive for Alfonso Curcio, the owner of Farmer’s Pick in Ottawa.
The Canadian dollar is at its lowest level since May 2020, with $1 CAD converting to $0.71 U.S.
That means purchasing produce from the states is more expensive for Alfonso Curcio, the owner of Farmer’s Pick in Ottawa.
“We're feeling it now because all the local stuff's all done, and we switched over to almost entirely U.S.,” Curcio tells CTV News Ottawa.
Around this time of year, Farmer’s Pick always starts importing their fruits and veggies from the U.S. as the weather gets colder and local farms aren’t able to grow produce.
Curcio says he had to pay $87 CAD for 24 heads of lettuce on Monday morning, but they’re selling those heads for $4.99, which doesn’t cover their margins.
“It's all caught up to us now,” he explains.
“People don't realize the exchange is on when we buy the product, that it's on the freight, it just gets all added on. So, by the time the customer sees it or we see it, it's a large increase."
