Maple Leaf Foods plans to increase prices early next year in response to a “challenging external environment,” chief executive Curtis Frank said in the company’s third-quarter earnings call.
The company said it had not yet announced the details of the price hike to its customers, which include all major grocery retailers across Canada. Maple Leaf products are found in 92 per cent of households across the country.
Maple Leaf is paying eight per cent more for live poultry compared with the same period last year, Frank said, adding that chicken products account for 40 per cent of the company’s overall sales.
Fuel surcharges have also increased by 17 per cent in the last quarter, alongside “near everything else,” including labour, packaging and ingredients.
