Why is that important? The Food Terminal's role is probably not what most people think it is. The vast majority of produce bypasses it and goes directly to massive retailer/distributor distribution centres in the suburbs. The facility is antiquated and of convenience only to small or specialty operators, and could serve that role as well on an industrial site in Mississauga/Brampton.
For the sake of this thread I wont go into deep details, but here's a great read which applies to many businesses in Toronto and the GTA:
Following that story from January, 2019, in July, 2019 the provincial government passed legislation to protect the Ontario Food Terminal. It is not going anywhere:
Ontario Food Terminal lands
47.1 (1) The lands upon which the Ontario Food Terminal is situated and the prescribed surrounding lands are hereby designated as a provincially significant employment zone, in recognition of the pivotal role the Ontario Food Terminal plays in the Province’s agricultural and food network.
(2) A municipality shall not, by by-law, resolution or otherwise, permit any rezoning, development or use of the lands designated under subsection (1) that would conflict with their use as an employment zone.
(3) The Minister may make regulations,
(a) identifying the lands on which the Ontario Food Terminal is situated more specifically and prescribing surrounding lands for the purposes of subsection (1);
(b) governing the protections that apply to lands designated as a provincially significant employment zone under subsection (1), including prescribing protections that apply in addition to those identified in subsection (2).
(4) This section applies despite anything to the contrary in a municipality’s official plan, in a growth plan made under the Places to Grow Act, 2005 or in any other provincial plan.