To help better explain the specific cost impacts to each customer, we have asked our dedicated customer service team to reach out and help answer any questions that you may have. Understandably, this challenge will affect every business in different ways but as always, we will continue to look for creative ways to deliver unparalleled value and quality to all of our customers. We hope you understand this increase is forced by conditions out of our control.We very much appreciate your understanding and continued support.
Con't CDN Dollar slide
As many of you have heard and or seen in the news lately, the recent and continued devaluation of our Canadian Dollar in 2015 has resulted in significant increases to the costs of purchasing items from our US trading partners. Since our last correspondence back in May of this year, the CDN dollar has lost a further 12 percent against the US currency. For your reference, above you can find a chart that captures the last seven months of exchange rate deterioration:
As a result, we have no choice but to adjust our customers pricing to reflect the higher and increased procurement costs. Effective February 1st, 2016 we will begin raising our customers prices for both our coffee and allied programs. However, just like our customers – not all products are affected in the same way and we continue to work with our partners to help minimize the impacts of these increased costs as well as attempting to create any added efficiencies where possible.