Quebec dairy giant Agropur is warning that the threat of a tariff war with the United States may force it to delay or rethink some of its planned investments.
The Canadian PressThe Agropur logo is seen on a carton of milk in Montreal on Tuesday, June 18, 2019. THE CANADIAN PRESS/Paul Chiasson
He said Canada lacks the capacity to process and transform the ingredients into products, an issue that’s been highlighted by the infant formula shortages of recent years. The dairy cooperative, which includes brands such as Natrel, Québon and Oka cheese, has reduced its debt to two times its earnings before interest, tax and amortization as of November. This ratio reached 8.3 times in April 2020, during the COVID-19 pandemic, before dropping to between two and three times in 2023.
“If we remember the pandemic, not so long ago, not a single Canadian ran out of milk,” he said. “We really have a system that is robust and resilient and works very well in its current form.”
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