Cost Of Living: Pepsi And Coca-Cola Absent In Meeting With Federal Industry Minister

 Cost Of Living: Pepsi And Coca-Cola Absent In Meeting With Federal Industry Minister 

 

Canada's industry minister made a point of calling out Pepsi and Coca-Cola for not sending representatives to a meeting he convened on Monday with manufacturing companies to discuss stabilizing grocery prices. Francois-Philippe Champagne singled out the two companies when asked by a journalist what the consequences would be if major industry players did not succeed in stopping high inflation. "This morning, (their CEOs) did not attend the meeting," Champagne said of beverage giants Pepsi and Coca-Cola. "I intend to call on them and I will continue to do so. ... I don't stop," he told reporters. The Canadian leaders of seven international manufacturing companies, including Nestle and Kraft Heinz, met with Champagne. He summoned them to answer to Prime Minister Justin Trudeau's call earlier this month for Canadian grocers to come up with a plan to stabilize prices by Thanksgiving. If major grocers fail to deliver ideas, Champagne said, "the consequence is for all 40 million Canadians because we will be able to see who is taking action and who is not." A government source told The Canadian Press that the CEOs of Pepsi and Coca-Cola responded to the federal government summons by stating they were not available Monday. The source was granted anonymity because they were not allowed to speak publicly about the matter. It's unclear, however, whether another meeting between major food companies and the government will take place. Monday's meeting brought together top Canadian executives from McCain, Unilever, Nestle, Lactalis, Lassonde, Kraft Heinz, and Smucker Foods. All avoided speaking with journalists. The CEO of the Food, Health & Consumer Products of Canada association, Michael Graydon, attended the meeting and agreed to answer questions on their behalf. Graydon called the meeting "very productive." "We're very much about co-operation and support, collaboration," he said. "It's an industry that needs to align and work collectively to find a solution." He said manufacturers want to collaborate with other players in the supply chain, such as major retailers like Loblw and Costco, whose leaders Champagne met with one week earlier. In a statement, Pepsi said it is open to meeting with Champagne. "We are pleased that our industry association, FHCP, led a productive conversation with the government and representatives from industry 



oday," it said. "We were not able to attend today's meeting, but we offered to meet with the minister. We are committed to collaborating with the government to identify solutions during this challenging time for Canadians." Trudeau has said that if the government isn't satisfied with what major grocers come up with to stabilize prices, he would intervene, including with tax measures. Graydon said it remains to be seen how detailed the plans will be by the government's Thanksgiving deadline. "We'll have to see whether, you know, the detail of how much completeness can be done by that time. But I think everybody's working very hard to achieve that," Graydon said. Champagne said he is happy Graydon "wants to do something," because "it's a gain for Canadians." "It's clear that what's important is that we have timelines, work plans, and obviously concrete actions," the minister said. This report by The Canadian Press was first published Sept. 25, 2023.


Industry Minister Calls Out No-shows Pepsi, Coca-Cola After Meeting With Manufacturers Over High Food Costs 

Canada’s industry minister made a point of calling out Pepsi and Coca-Cola for not sending representatives to a meeting he convened on Monday with manufacturing companies to discuss stabilizing grocery prices. Francois-Philippe Champagne singled out the two companies when asked by a journalist what the consequences would be if major industry players did not succeed in stopping high inflation. Article content “This morning, (their CEOs) did not attend the meeting,” Champagne said of beverage giants Pepsi and Coca-Cola. “I intend to call on them and I will continue to do so. … I don’t stop,” he told reporters. The Canadian leaders of seven international manufacturing companies, including Nestle and Kraft Heinz, met with Champagne. He summoned them to answer to Prime Minister Justin Trudeau’s call earlier this month for Canadian grocers to come up with a plan to stabilize prices by Thanksgiving. If major grocers fail to deliver ideas, Champagne said, “the consequence is for all 40 million Canadians because we will be able to see who is taking action and who is not.” Related Stories How the Liberals' affordability bill will affect housing and food prices Trudeau gives major grocers until Thanksgiving to come up with plan to stabilize food prices A government source told The Canadian Press that the CEOs of Pepsi and Coca-Cola responded to the federal government summons by stating they were not available Monday. The source was granted anonymity because they were not allowed to speak publicly about the matter. Article content It’s unclear, however, whether another meeting between major food companies and the government will take place. Monday’s meeting brought together top Canadian executives from McCain, Unilever, Nestle, Lactalis, Lassonde, Kraft Heinz, and Smucker Foods. All avoided speaking with journalists. The CEO of the Food, Health & Consumer Products of Canada association, Michael Graydon, attended the meeting and agreed to answer questions on their behalf. Graydon called the meeting “very productive.” “We’re very much about co-operation and support, collaboration,” he said. “It’s an industry that needs to align and work collectively to find a solution.” He said manufacturers want to collaborate with other players in the supply chain, such as major retailers like Loblaw and Costco, whose leaders Champagne met with one week earlier. In a statement, Pepsi said it is open to meeting with Champagne. “We are pleased that our industry association, FHCP, led a productive conversation with the government and representatives from industry today,” it said. “We were not able to attend today’s meeting, but we offered to meet with the minister. We are committed to collaborating with the government to identify solutions during this challenging time for Canadians.” Article content Trudeau has said that if the government isn’t satisfied with what major grocers come up with to stabilize prices, he would intervene, including with tax measures. Graydon said it remains to be seen how detailed the plans will be by the government’s Thanksgiving deadline. “We’ll have to see whether, you know, the detail of how much completeness can be done by that time. But I think everybody’s working very hard to achieve that,” Graydon said. Champagne said he is happy Graydon “wants to do something,” because “it’s a gain for Canadians.” “It’s clear that what’s important is that we have timelines, work plans, and obviously concrete actions,” the minister said. Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark nationalpost.Com and sign up for our politics newsletter, First Reading, here. Share this article in your social network



5 Countries Where Pepsi Or Coca-Cola Is Not Sold 

In this article, we look at the 5 countries where Pepsi or Coca-Cola is not sold. You can read about the market penetration levels of these two powerhouses in the soft drinks industry by heading over to our article, 15 Countries where Pepsi or Coca-Cola is Not Sold. 5. Venezuela Status: Limited Availability Western sanctions and economic turmoil in Venezuela have disrupted operations of several international companies, including Coca-Cola, which has impacted the supply of soft drinks in the country. Coca-Cola temporarily 


ceased operations in Venezuela in 2016 due to a shortage of sugar in the country. In 2009, the Venezuelan government banned the sale of Coke Zero in Venezuela. Pepsi has also been at the receiving end of the economic turmoil. It generated revenues of only $326 million in 2015, while reporting massive charges worth $1.4 billion for operating in the country. 4. Yemen Status: Limited Availability Yemen has been under the grip of deadly civil unrest for a decade now, which has impeded the supply of various products.


The Coca-Cola Company (NYSE:KO) has been a direct victim of the conflict. In 2015, its bottling factory in the capital Sanaa was destroyed in an airstrike led by Saudi coalition forces. Both Coca-Cola and Pepsi often face shortage in the local markets due to the law-and-order situation. Bootleg versions and black-market distributions are rampant in the country. 3. Russia Status: Not Sold The Coca-Cola Company (NYSE:KO) and PepsiCo, Inc. (NASDAQ:PEP) announced in 2022 to leave the Russian market by ceasing operations, halting all investments and promotional activities, after Russia invaded Ukraine. This meant the drinks were no longer officially available in the country. However, the Greek company that bottled and sold Coca-Cola in Russia rebranded itself as Dobry Cola. 2. Cuba Status: Not Sold Cuba was the first country to import Coca-Cola in 1899. The Coca-Cola Company (NYSE:KO) also built its plant in the 


country in 1906. However, after the Cuban Revolution of 1962 and Castro’s government seizing assets of foreign companies, Coca-Cola ceased production and ended its ties to the Cuban market. PepsiCo, Inc. (NASDAQ:PEP) also does not operate in Cuba. 1. North Korea Status: Not Sold North Korea is another country where Coca-Cola or Pepsi is not sold due to its strained relations with the United States, and much of the larger world. The country has been facing American sanctions since the 1950s which were further tightened after North Korea’s aggression against South Korea in the 1980s. According to a report, however, Coca-Cola bottled in China often ends up in Pyongyang, bearing Chinese labels instead of the original Coca-Cola labels. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from


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