NEW REPORT — Annual Food Waste in Canada Is $31 Billion!

The new report – Food Waste in Canada – $27 Billion Revisited – Dec 10, 2014 – states that the actual quantifiable figure is $31 billion: a 15% increase from VCMI’s 2010 report estimation.

Five key takeaways from the 2014 report:

  1. Canada’s annual quantifiable food waste cost is $31 billion.
  2. The true cost of food waste in Canada is $107 billion.
    • This is calculated by taking United Nation’s Food and Agricultural Organization’s estimation of the value of food wasted representing only 29 percent of the true cost.
  3. For businesses – the total cost of waste along a value chain can exceed the combined margins of the involved companies.
  4. For consumers – avoidable food waste can increase the cost of food by 10 percent or more.
  5. Through reducing food waste, businesses can reduce operating costs by 15 to 20 percent and increase profitability by the equivalent of 5 to 11 percent.