OTTAWA - A new study says Canada is uniquely positioned to weather the storm of sharply-rising prices for grains and rice, and could even profit from the current surge.
Statistics Canada says consumer prices for food consumed at home in Canada rose only 1.2 per cent in the 12 months ending in April 2008.
Food prices increased 7.1 per cent in the European Union and 5.9 per cent in the United States during the same period.
Asian countries with rice-based diets were hit hardest when the price of rice doubled early this year.
The agency says Canadians are paying more for bread and cereal products, but they have been insulated from higher overall grocery bills by stable or falling prices for most other groceries.
StatsCan says one reason is that some food imports are costing less because the Canadian dollar is worth more.
