People may be paying more for food by the end of the year
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An economist is warning that we could be paying five to seven per cent more for food by the end of the year.
Doug Porter of B-M-O Nesbitt Burns said bad crops, rising transportation costs, and the economic recovery all mean higher prices for food ingredients.
Turtleford area farmer Alex MacDonald gets a bit upset when he sees what that cost food is in stores, compared to what producers get at the farm-gate.
“I go into the stores and I look at what the split peas or split lentils are worth and it bugs me to see that,” said MacDonald “I've looked on the internet and, I think it was in 1973, it shows that a barrel of oil was $3.65 and a bushel of wheat was the same price. Now oil is over a hundred dollars a barrel and crop insurance is paying something like $6.00 for wheat,” said MacDonald.
