Continued rising food inflation pressures means more price increases are likely in store at the supermarket for the rest of the year, Michael McCain, chief executive with Maple Leaf Foods Inc., warned Wednesday.
Speaking just before the official opening of a brand-new $100-million bakery facility in Hamilton, Ont., Mr. McCain said that rising costs of raw materials such as corn feed and livestock are a serious concern for the company — one that consumers will have to help bear.
"I would suspect the answer is yes, dependent on market conditions and raw material conditions," Mr. McCain said on the phone from Hamilton. "It's a challenge we've had to face over the last 18 months, unprecedented food inflation."
To read the rest of the story, please go to: Financial Post