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AVAILABLE EXPERT - Effect of falling Canadian dollar on food prices

Wednesday, January 13, 2016

Queen’s University marketing professor Ken Wong is available to comment on the effect that the falling Canadian dollar will have on food budgets.Professor Wong says that, more than ever, Canadians will need to reflect on the cost of their food choices. Consuming produce which is out of season or sourced in distant geographic areas will be the most heavily penalized. Were it not for the current low price of oil, the financial penalties of an exotic diet would be even more extreme

“The recent report that every drop of one per cent on the loonie means a one per cent increase in the price of food has several implications beyond the obvious impact on how much truly discretionary income is available for Canadians,” says Professor Wong. “The low dollar will make it increasingly hard for poorer Canadians to eat healthy. Because the price increases are a consequence of exchange rates, expect to see more promotion of local products, especially produce.”

“Canadians will be, willingly or not, following the 100 mile diet with appropriate adjustments. One possible positive effect is that organic produce, often locally sourced, may see the price gap between them and imported, non-organic goods close.”

To arrange an interview, please contact communications officer Chris Armes (613-533-6000 ext. 77513 or chris.armes@queensu.ca) or Anne Craig (613-533-2877 or anne.craig@queensu.caat Queen’s University News and Media Services Department in Kingston, Ont., Canada.

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