The IHL Group estimated in 2015 up to $984 Billion in lost sales worldwide as procurement issues resulting in out-of-stocks are hitting grocers. This number has snowballed into the trillions as we reach the 2nd year of the pandemic. Now with vaccines widely available the Canadian government has enforced a January 15th hard stop to unvaccinated truckers from entering Canada. The timing is odd since much of Canada’s produce comes from the United States border during these early months of the year. The government estimates it is turning away ~26,000 trucks. If these figures are to be believed, at a rate of up to 20,000 lbs per semitruck, this is a rejection of up to 520,000,000 lbs of product (chiefly produce and dry food goods like pasta, crackers, etc.).
With this heavy inflation as a result of just one policy, will a reversal be inbound in the coming months? Although politically unpopular, the government seems steadfast in its course. The Canadian government is urging citizens not to panic buy. If you have less than 1 month food supply I would urge you to do the opposite. StokedWallet will be monitoring the PHAC for updates.
