CWB books $6B in revenues for 2010-11

notafarmer

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Payout to Prairie growers fourth-highest on record, CEO reports
Prairie wheat and barley growers saw payments of about $5.5 billion for their deliveries to the Canadian Wheat Board during its 2010-11 crop year.

The CWB on Tuesday released its annual report for 2010-11 showing $6.071 billion in combined pool revenue, with $3.792 billion paid out to pool participants, another $1.709 billion paid out through producer payment options (PPOs) and another $11.5 million to cash trading participants.

That's up from $5.149 billion in total CWB revenues in 2009-10, from which $4.279 billion went to pool participants, $278.2 million to PPOs and $6.1 million to cash trading participants.

CWB CEO Ian White, in the annual report, described the 2010-11 total payout to producers as the board's fourth-highest on record, "despite the fact that the 2010-11 harvest produced one of the smallest and lowest-grade crops on record after a disappointing weather pattern for most of the growing season."

Record rainfall, he wrote, led to millions of unseeded acres, delayed crop development and damaged harvest quality, while "significant rail transportation problems," some of which were related to the heavy rainfall, "resulted in additional challenges for marketing the crop."

The board's total receipts of grain for 2010-11 included 13.668 million tonnes of wheat, down from 15.603 million in 2009-10. Durum receipts for 2010-11 totalled 3.965 million tonnes, up from 3.414 million in 2009-10.

Read more at http://www.grainews.ca/news/cwb-boo...l&utm_campaign=EN02222012&link_targ=DailyNews
 
 
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