Newsroom
2004
CWB expands pre-delivery top up program
September 1, 2004
Winnipeg - The Canadian Wheat Board is expanding its pre-delivery top up program for the 2004-05 crop year to include Canada Western Red Spring wheat, the largest class of wheat produced on the Prairies. The program provides farmers with access to a greater portion of the value of their grain before delivery.
Under the program, farmers who have a cash advance and require additional cash flow early in the crop year can apply for a pre-delivery top up contract and get a further pre-delivery payment of $20 per tonne.
The top-up program is another example of the choices farmers have when marketing their wheat and barley, noted Ken Ritter, chair of the CWB's farmer-controlled board of directors.
"For many farmers, accessing more of the value of their crop early in the season is critical to managing their cash flow and paying suppliers," Ritter said. "This year, based on farmer feedback, we've expanded the program to CWRS to open it up to more farmers."
The top-up program was introduced in the 2003-04 crop year, but was limited to non-CWRS wheat varieties.
The program begins today with a sign-up deadline of October 31, 2004. To qualify for the pre-delivery payment, participating farmers must sign up for a cash advance and then apply for a pre-delivery top-up contract. They can apply by fax 1-204-983-8031 or by calling the CWB toll-free at 1-800-275-4292.
Farmers can expect to receive the payment within 10 business days of signing the contract. Participants will be responsible for the costs associated with the program, which includes risk management, administration costs and the time value of money.
Controlled by western Canadian farmers, the CWB is the largest wheat and barley marketer in the world. As one of Canada's biggest exporters, the Winnipeg-based organization sells grain to more than 70 countries and returns all sales revenue, less marketing costs, to Prairie farmers.
For more information, please contact:
Louise Waldman
Manager, Media Relations
Tel: (204) 983-3101
Cell: (204) 479-2451