In Ontario, Nestle, the giant Swiss food company pays 0.00000371 cents per litre for water and expects the customer to pay more than $3.71 per litre bottle at non discounting retailers.Nestle has been getting its 1.13 million litres of water a day from Guelph in Wellington County but they want to increase it to 3.6 million litres a day at a time the area is subject to water restrictions due to drought.
As you'd expect the local residents, conservationists and environmentalists are up in arms and seeking a review to the situation.
There's more to know here.
But back to the million percent profit margin. Sure there are costs involved in getting that litre of water to the marketplace including the bottle, labeling, packaging, shipping and handling but that's an amazing potential mark up at the point of purchase isn't it...
