NLC has $3.2M in U.S. alcohol in storage, and government is staying silent on its fate
CBC
As other provinces begin selling off U.S. alcohol with the idea to donate proceeds to charity over the holidays, Newfoundland and Labrador isn't making a decision, yet, on what it plans to do with its $3.2-million inventory.
The previous Liberal government gave the order to remove American-made products from Newfoundland and Labrador Liquor Corporation shelves in response to U.S. President Donald Trump's trade war in early 2025.
Other provinces made similar moves, though over the summer Alberta and Saskatchewan reversed course and started restocking U.S. products.
Last week, Nova Scotia announced it was selling off its $14-million U.S. inventory, and about $4 million was promised to Feed Nova Scotia and other food-related charities.
Manitoba followed with a similar announcement on Thursday.
Bruce Keating, president and CEO of the NLC, said the $3.2-million cache is being kept at various NLC locations in the province.
He said any decision regarding the stockpile is in the provincial government’s hands.
“Those kinds of discussions and consultations are continuing,” Keating said. “We’ll continue to have discussions with the provincial government on that.”
The provincial government isn't making public, as of yet, what it intends to do with the inventory.
Craig Pardy, the minister responsible for the NLC, was not available for an interview, but his department provided a statement to CBC News.
“While no actions have been taken at this time with respect to the existing U.S. product for Newfoundland and Labrador, we anticipate a decision in the near future as we continue conversations with the NLC,” spokesperson Kathryn Summers wrote in an email.
Almost a year after U.S. alcohol was pulled from the NLC's shelves, the impact on the Crown corporation's revenue is evident.
The NLC released its second quarter performance for this fiscal year on Monday, which saw the company's net earnings at $56.3 million. That's a 6.2 per cent drop compared to the same period last year.
Keating said that decline is in part due to the removal of U.S. products.
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