Newsroom
2002
March 21, 2002
Increased initial payments for 2001-02 crop year
Winnipeg -- The CWB today announced increases to the 2001-02 initial payments for wheat, durum wheat, feed and designated barley effective March 26, 2002. Farmers receive initial payments when they deliver their wheat and barley as an advance on the total returns from the sale of their grain.
The increase in initial payments for wheat will range between $8.15 and $20.25 per tonne, depending on class, grade and quality. In the case of durum, the increase will be between $15.30 and $21.50 per tonne. Feed barley will rise by $7 per tonne. The increase for two-row designated barley will be $10 per tonne and $9 per tonne for six-row designated barley.
The adjustment payments for representative grades in each pool account are listed below. The total initial payment to date is based on the value of grain, in-store, at port position (Vancouver or St. Lawrence).
| Grade |
Initial |
Adjustment |
Total payment to date |
|
No. 1 Canada Western Red Spring Wheat 12.5 |
$166.45 |
$12.25 |
$178.70 |
|
No. 1 Canada Western Amber Durum 12.5 |
$188.00 |
$18.75 |
$206.75 |
|
No. 1 Canada Western Feed Barley |
$130.00 |
$7.00 |
$137.00 |
|
Special Select Canada Western 2-Row |
$192.00 |
$10.00 |
$202.00 |
|
Special Select Canada Western 6-Row |
$168.00 |
$9.00 |
$177.00 |
A complete listing of payments for all grades in dollars per tonne and dollars per bushel is posted on the CWB's Web site (under the Payments link) at www.cwb.ca.
Farmers who delivered wheat, durum and barley to the CWB between August 1, 2001 and March 25, 2002, will receive an adjustment payment. Payments will be mailed on April 5, 2002 or received by direct deposit on April 2, 2002. Farmers who wish to defer payments have until March 27, 2002 to notify the CWB by calling 1-800-275-4292.
Initial payments should not be confused with monthly Pool Return Outlooks (PROs) which are the CWB's estimates of total pool year returns.
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 the costs of marketing, to Prairie farmers.