TORONTO — Food processor George Weston Ltd. says wholesale buyers have been resisting price increases it started charging earlier this year to help offset the rising cost of ingredients it uses to make breads and other products.
The bakery company — which reported sharply higher first-quarter profits Tuesday — raised prices about five per cent starting April 1 to help deal with skyrocketing costs for commodities such as wheat, sugar and corn.
“It’s difficult to get pricing through in both (Canada and the U.S.), although we have had some success in the first quarter and through April and May,” Ralph Robinson, president of Weston Foods Canada, said during a conference call.
“But there’s resistance (to price increases) everywhere and it’s a very competitive market on both sides of the border.”
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