Some Prairie farmers calling for the Canadian Wheat Board to be re-established

SWAN RIVER, Man. -- Some Prairie farmers are not giving up their fight for the Canadian Wheat Board.

A group of producers from parts of Manitoba and Saskatchewan wants the federal government to bring back the board and its single desk for selling wheat and barley.

See Full Article

The Canadian Wheat Board Alliance says the former Conservative government made a mistake when it privatized the board and sold it to the G3 Global Grain Group.

Kyle Korneychuk, an alliance spokesman, says the privatization has cost farmers money and thousands of people their jobs.

Manitoba Agriculture Minister Ron Kostyshyn says he is very concerned about the financial situation of farmers since the loss of the wheat board.

Alliance members also wonder what will happen to the Port of Churchill in northern Manitoba when short-term federal subsidies end next year.

Korneychuk said the wheat board did a good job of co-ordinating the movement of grain from farms via rail to port, then overseas markets.

"It allowed us to return almost the full value of the world price to farmers," he said in a release.

"Farmers only paid for the CWB's operating expenses but now they pay for the private trade's operating expenses and the profits to foreign shareholders and grain company owners."

The federal government announced in April 2015 that G3, which is partly owned by Saudi Arabia, would buy 50.1 per cent of the board for $250 million.

It said the rest would be kept in trust for grain farmers.

The Conservative government at the time said the sale would help modernize Canada's grain sector to stimulate investment and create jobs.

G3 has said it is a Canadian company run by Canadians who are interested in building a long-term relationship with farmers.

Prairie farmers going as far back as 1935 used to sell their wheat and barley to the board, which in turn exported it to foreign markets.



Advertisements

Latest Economic News

  • Indigenous activists want Dollarama to stop selling dreamcatchers beside Canada 150 items

    Economic CTV News
    Canadian discount retailer Dollarama is coming under fire by indigenous rights activists who are accusing the company of appropriating their culture by placing dreamcatchers alongside Canada 150 items on store shelves. An online petition created by grassroots indigenous activists in Stouffville, Ont. Source
  • Florida firm offers $807M to take over Canadian forest company Tembec

    Economic CBC News
    Montreal-based lumber, paper and pulp producer Tembec has received an $807 million US offer to take over the company from Florida-based conglomerate Rayonier Advanced Materials. Jacksonville-based Rayonier is offering Tembec shareholders $4.05 Cdn per share, or 0.2302 shares in the new combined company for every share that they own. Source
  • Marches to take place as Quebec construction strike enters Day 2

    Economic CTV News
    MONTREAL - Various marches will take place across Quebec in support of the province's construction strike as it enters Day 2. About 175,000 workers launched the unlimited general strike on Wednesday, crippling activity on major projects such as the Champlain Bridge and a Montreal superhospital. Source
  • CIBC profit tops $1B last quarter

    Economic CBC News
    CIBC took in $3.7 billion in revenue during the period. (Nathan Denette/Canadian Press) CIBC had $1.05 billion of net income in its second quarter, up 11 per cent from a year ago when it reported $941 million of net income. Source
  • Royal Bank profit rises to $2.8B

    Economic CBC News
    Royal Bank of Canada has boosted its second-quarter net income by nine per cent to $2.81 billion. That compares with $2.57 billion during the second quarter of 2016. The profit amounted to $1.85 per share, compared with $1.66 per share during the same period last year. Source
  • TD Bank profit rises 22% to $2.5B

    Economic CBC News
    TD Bank had $2.5 billion of net income during the second quarter, up 22 per cent from a year ago. The earnings amounted to $1.31 per share. That compared with $1.07 per share or $2.05 billion of net income during the same period last year. Source
  • Florida-based company makes US$807-million takeover offer for Tembec

    Economic CTV News
    MONTREAL -- Tembec Inc. has received a friendly takeover offer from Rayonier Advanced Materials Inc. of Jacksonville, Fla. Rayonier's offer values the Quebec-based lumber, paper and pulp producer at US$807 million, including US$487 million of debt that will be assumed by the new owner. Source
  • Florida-based company makes US$807M offer for Quebec's Tembec

    Economic CTV News
    MONTREAL -- Tembec Inc. has received a friendly takeover offer from Rayonier Advanced Materials Inc. of Jacksonville, Fla. Rayonier's offer values the Quebec-based lumber, paper and pulp producer at US$807 million, including US$487 million of debt that will be assumed by the new owner. Source
  • OPEC and other nations set to extend output cuts

    Economic CTV News
    VIENNA -- OPEC and other oil nations meeting Thursday were set to extend their production cuts in an effort to shore up prices. But the intended impact could be short-lived. That's due to U.S. Source
  • Tentative contract agreement in place for Quebec provincial police

    Economic CTV News
    SAINT JULIE, Que. -- A tentative contract agreement has been reached between the Quebec government and the association representing about 5,400 provincial police officers. The members of the Provincial Police Association have been without a contract since March 31, 2015. Source