What do Pepsi, Coke and Champagne all have in common?.They were all supposed to meet in Ottawa on Monday to discuss Canada’s growing food inflation problem..Industry Minister François-Philippe Champagne specifically singled out the soft drink giants for failing to show up for a meeting with other food manufacturers to discuss ways to stabilize food prices..“This morning, (their CEOs) did not attend the meeting,” Champagne said of Pepsi and Coca-Cola. “I intend to call on them and I will continue to do so… I don’t stop,” he told reporters following a meeting with seven other international food giants, including Nestle, Heinz, Kraft, McCain’s and Smuckers..The meeting was in response to Prime Minister Justin Trudeau’s call earlier this month for food companies and grocery chains to find ways of stabilizing food prices by Thanksgiving or face unspecified consequences — presumably higher taxes..The Canadian Press reported the CEOs responded to a government summons by stating that they were “unavailable.”.Major retailers including Loblaws — which owns Superstore in Western Canada — and Costco met with Champagne last week, ostensibly to discuss supply chain issues..None of the companies have commented publicly..But according to the Food, Health & Consumer Products (FCHP) of Canada trade group, which attended the meeting on behalf of its members, the purpose was to provide Champagne with a “comprehensive understanding of the cost pressures faced by Canadian food and consumer goods manufacturers,” including global companies with a strong presence in Canada. .Additionally, it said Champagne sought insights into the steps manufacturers have taken, and are continuing to take, to alleviate the impact of rising costs on consumers..The FCHP is advocating a ‘Grocery Code of Conduct’ similar to ones in Australia and the UK. The group also stressed the need for all of the large grocery stores and manufacturers to participate in the code in order for it to be effective. .“There was extensive discussion and agreement that an effective code must be inclusive and encompass all items found within an average grocery basket,” it said in a statement on its website..“FHCP emphasized that the Grocery Code of Conduct could play a significant role in achieving these goals, with a resounding majority of stakeholders, from farmer to manufacturer to retailer, expressing support for the code.“.According to Statista, Canadians consumed about 51 litres of soft drinks per person in 2021, down 40% from 86 litres in 2010, worth about $2.5 billion..Coke and Pepsi are the clear market leaders, with 28% and 25% of all sales, respectively.
