The first signs are emerging that consumers are beginning to balk at soaring prices for pork and other meat products.
Prices for some meat products have been rising as much as 26 per cent lately and on Thursday, Canada’s largest meat processor, Maple Leaf Foods Inc., said sales of sausages, bacon and other products fell by double digits. The company had been jacking up prices for its Schneiders, Shopsy’s and other brands in response to rising pig prices, but sales of those products are now falling.
Michael McCain, Maple Leaf Foods chief executive officer, called the steep sales drop “a little bit shocking” and said the company lost market share to private label food processors, which were slower to raise prices.
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