The impact of Porcine Epidemic Diarrhoea virus (PEDv) has caused another increase in meat prices. In Canada. According to reports, this is Maple Leaf’s second price increase in response to PEDv.
Michael McCain, president of Maple Leaf Foods, stated that the price hike could cause consumer habits to be adjusted and consumers could buy bacon and other pork products less frequently over the longer term.
The company stated that increased costs forced the firm to act quickly to improve its margins. “What we don’t know, and becomes highly unpredictable, is what the demand response will be from that new higher pricing,” he said.
The virus does not affect humans or consumed food. The virus has however since last May affected 30 US states to date, destroying about 10% of the US pig population.
Maple Leaf Foods makes bacon, hot dogs and deli meats.
For more info: Maple Leaf
Source: Global News