Thanksgiving Turkey Prices Drop in Ontario, Costs Rise for Sides

UPDATE: This year’s Thanksgiving feast in Ontario will see a significant shift in costs, with turkey prices dropping while side dish prices surge. As families prepare for the holiday on Monday, October 13, 2024, the latest data reveals that a seven-pound frozen turkey will cost approximately $10.43, down from $11.69 in 2023.

However, this savings will be overshadowed by rising costs for essential side dishes. A 10-pound bag of potatoes has increased to $6.99, reflecting a $1 jump from last year. According to the Agri-Food Analytics Lab at Dalhousie University, these potatoes represent “one of the biggest jumps in the basket,” as noted by Senior Director Sylvain Charlebois.

The overall cost of a Thanksgiving dinner for four has only risen by 18 cents compared to last year. Charlebois stated, “Grocers appear to be discounting some staples like turkey while allowing increases on side dishes.” Other items experiencing price hikes include gravy, up 39 cents, stuffing, up 42 cents, cranberries, up 50 cents, and bread rolls, which have gone up by a single cent.

In contrast, carrots are cheaper this fall, dropping from $1.79 per pound in 2023 to 91 cents today. “Thanksgiving dinner is a powerful symbol for Canadian households, and its cost gives us insight into broader food price dynamics,” Charlebois added.

The fluctuations in food prices are attributed to several factors, including tariffs on steel and aluminum, which continue to affect the prices of canned goods like cranberry sauce and gravy. While promotional discounts have softened some increases, these tariffs are exerting ongoing pressure on grocery costs.

As families look to manage their Thanksgiving budgets, alternatives like rutabagas, beets, and sweet potatoes are gaining traction. Rutabagas, for example, have seen farm gate sales reach $31.6 million in 2023, nearly double the figures from 2000. Meanwhile, sweet potato production in Ontario has steadily increased, with 13,783 tonnes produced this year.

With Thanksgiving just around the corner, shoppers are encouraged to plan their meals carefully to navigate these price changes. The evolving landscape of food prices not only affects holiday planning but also reflects broader economic trends that families must consider as they gather to celebrate.

Stay tuned for more updates as we approach this crucial holiday.