Topline: COVID-19’s impact on food and consumer goods manufacturers
FCPC members report an increase in demand and production in response to COVID-19
The spread of COVID-19 in Canada has triggered panic-buying and hoarding, and food and consumer goods manufacturers are working to keep pace.
According to a survey of its members, Food & Consumer Products of Canada (FCPC) says orders were at all time highs in the last two weeks of March.
In fact, members reported a 500% increase in demand during that time. And, 80% of those surveyed said they had increased production.
Conducted by: FCPC conducted the survey of its members to “provide critical insight into business impacts and responses related to the ongoing COVID-19 pandemic.”
- 80% of FCPC members reported normal or manageable pressure on warehouse and freight capacity.
- 75% of members are confident in the supply of raw materials for 2-to-5-plus months, if current trends continue. (Five per cent project possible supply issues within one month; 20% don’t expect any issues at any time, even with current trends.)
- 70% of members have focused production on their most in-demand products. These include: paper products, canned goods, rice, pasta, disinfectants/ household cleaning and baby food.
- 95% of members said they are receiving adequate guidance from public health authorities
“It appears likely the COVID-19 pandemic will entail a prolonged period of uncertainty for Canadian businesses and consumers,” said FCPC president and CEO Michael Graydon in a press release. “Quantifying the profound impacts of COVID-19 on our production, supplies, and workplaces is critical to making smart preparations for continuing the smoothest possible operations to make the food, cleaning, household and health products Canadians need.”