On Monday, the Federal Minister of Innovation, Science and Industry François-Philippe Champagne along with Federal Agriculture Minister Lawrence MacAulay met with major international food processors to talk about the need to stabilize food prices in Canada.

During the meeting, the ministers emphasized the importance of food processors to work with retailers to support new strategies and actions that will make a real difference to stabilizing grocery prices.

In a press release, they noted that while there are numerous challenges, there is also the need for greater compensation and innovation.

They added that any actions must not negatively impact small suppliers, or the price that farmers receive for their products.

The ministers stressed to the group the need for a wide-ranging approach, and will continue to work with food processors and other industry actors - both domestic and foreign -  to stabilize food prices in Canada.