On August 2, 2013 BMO Bank of Montreal released the results of this year’s Local Food Survey. We believe that it is worth publishing again since it is so fundamental to our beliefs in sourcing and eating Canadian. After so many years of struggle, BMO believes that the outlook for Canadian farmers looks positive and that supporting regional economies, farmers and jobs, along with fresh food and taste, all trump the cost of food for people choosing to buy local. This is huge news!
The report also revealed what products Canadians buy locally and why, and showed differences across the provinces on a variety of foods. The results cited in this report come from an online survey fielded by Pollara between June 14th and June 17th with a sample of 1,000 Canadians. Overall results for a probability sample of this size would be accurate to +/- 3.1%, 19 times out of 20.
The top reasons Canadians buy local, include:
- The food is fresh and tastes better (97 per cent)
- It supports the local economy (97 per cent)
- It supports local farmers (96 per cent)
- It creates local jobs (93 per cent)
- It’s better for the environment (88 per cent)
- It offers the opportunity to buy organic produce (76 per cent)
- It is less expensive (71 per cent)
“Canadian consumers continue to reap the benefit of a strong and stable agriculture sector with reliable food sources from across the country,” said David Rinneard, who is not only the Director, Agriculture and Agribusiness, BMO Bank of Montreal but also an enthusiastic, locally-inspired cook. “These survey results highlight the growing number of Canadians who show unwavering support for their local producers, a movement which boosts the national economy and creates jobs.”
Aaron Goertzen, Economist, BMO Capital Markets, added the outlook for Canada’s agriculture sector this year remains positive, with growing conditions in the Prairies looking supportive and higher-than-normal prices persisting for a number of key crops. These high prices and overall increased demand have partly been a carryover from decreased U.S. crop yield last year following the drought in the Midwest. Increased supply following this summer’s harvest – as U.S. farmers get back on track – will likely mean lower prices for Canadian farmers, but should also help reduce food prices for North American consumers.
Survey Results Coast to Coast
The results also showed clear differences in what they purchase locally based on access to locally sourced food.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly diversified North American financial services organization. With total assets of $555 billion as at April 30, 2013, and more than 46,000 employees, BMO Financial Group provides a broad range of personal and commercial banking, wealth management and investment banking products and solutions.
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