Our nation's food manufacturer's are achieving record profits this year.
The Conference Board of Canada's latest outlook reports the industry's pre-tax profits are set to hit 4.3 billion dollars in 2016.
The outlook says the stronger U.S. economy is a key driver in pushing the success of the industry as 70 per cent of Canada's food exports head there.
It's expected momentum will continue to build as the demand for food from developing countries continues to increase.
The board projects food exports to rise by an average of 2.6 per cent each year until at least 2020.
For only the second time in six years, Canadian food manufacturers are looking at a margin improvement.
The board feels the 4.4 per cent gain may be temporary as industry costs are expected to rise beyond this year.
They also note Canadian consumers are becoming more price conscious , leading to purchases of cheaper food options and items on sale.
