Canadian farmers are cashing in on the highest vegetable prices in years, helped by the country's weak currency and soaring costs of U.S. imports that have made them the unexpected winners in a bearish commodity world.
Fresh vegetable and fruit prices jumped 18 and 13 percent respectively in January year over year, according to Statistics Canada.
The cost of imported U.S. produce has also spiked as the Canadian dollar, now trading around 74 U.S. cents, fell 16 percent this past year.
Canada's second-largest grocery chain Sobeys said it is also buying more from Canadian farmers. Sobeys is hiring four "local developers" in Alberta and British Columbia, whose mission is to find local farmers and vendors.
Photo: Freeimages.com
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