Market Update - June 9th to 21st, 2018

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Product of the Week

⇣ 9%

Green Zucchini prices fell for the second week in a row, making it an excellent time to take advantage!

Pricing trends are an aggregate of all our vendors.

What information are we basing this report on? Our team is always in contact with our network, from our dedicated suppliers, to our own reps with their ears on the street. 

 

Weekly Savings 

 
Limes
limes

⇣ 8%

Iceberg Lettuce
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⇣ 4%

Cucumbers
EnglishCucumbers

⇣ 3%

 

Pricing Alerts

 
Corriander
corriander

⇡ 20%

Red & Yellow Peppers
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⇡ 29%

Broccoli, Case, 18's
broccoli

⇡ 6%

 

Market Updates and Industry News

 

1. Trade Updates Steer Clear of the Industry for Now


Despite speculation, recent developments regarding North-American trade and tariffs seem like they won’t affect the produce supply industry, for now.

Amid new tariffs imposed by Mexico in reaction to updated policies,  Canada’s economic reactions are relatively tame, only poised to affect cucumber imports in the future.

This doesn't mean however, that this will always be the case, in an evolving and dynamic situation. Stay tuned for any future developments that could impact prices; we’ll relay any important updates as they develop.

More reading here at the Globe and Mail:  https://www.theglobeandmail.com/business/commentary/article-why-ottawas-countertariffs-could-boost-the-countrys-food-industry/ 

 

2. Truck Rates Rise

 

Transportation rate hikes in the last few days may soon be affecting prices across the industry. The Packer reports a $1000 increase per load, which translates into higher market prices.

 

3. Hospitality Today:  8 Hours Available to Stream

The Welcome Hospitality conference has been posted in near entirety for anyone to plug in and enjoy. Run by a host of highly awarded restaurateurs, (like occasionally awarded, World’s Best Restaurant  Eleven Madison Park’s Will Guidara), the focus of this years conference was ‘Restoration’ and is definitely worth a look by anyone interested in the space (as we suspect you may be.)

Watch the conference in chunks, or, check out this great roundup by Skift Table that hits some major points.

All eight hours of keynote speakers are available to stream via livestream.com here