Low dollar squeezes Saskatoon business

Businesses that rely on imported goods are feeling the pinch of the lower Canadian dollar.

The loonie slid to three-year lows this week following a surprise rate cut by the Bank of Canada.

At the Super Fresh Asian Market off Clarence Avenue, the low dollar is causing headaches for manager Jim He.

Overall, he said business is good as many of Saskatoon’s increasing numbers of newcomers come in to pick up a little taste of home.   

As He walked down his aisles stocked with imported noodles, candies, spices, teas and other products, he pointed out several that are now costing him as much as $20 a case more than in the past.

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With his business just about seven-and-a-half months old,  He said he has got a balancing act to perform. On the one hand, he has to pass at least some of his higher costs on to his customers. On the other, he doesn’t want to drive people away with price hikes.

“We have to raise up [prices] a little bit, but we can’t raise up too much,” he said.

He said all he can do is focus on making his store as successful as possible as he rides out the low dollar.

“We worry though, I mean… it’s money, right?” he said.

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