Newsroom
2002
June 28, 2002
Initial payments for 2001-02 crop year increased
Winnipeg -- The CWB today announced that 2001-02 initial payments for wheat and durum will increase effective July 3, 2002. There will be no increase in initial payments for feed or designated barley at this time.
The increase in intial payments for wheat will range between $10.45 and $17.15 per tonne, depending upon the grade. In the case of durum, the increase will be between $13 and $17.40 per tonne.
The adjustment payments, in dollars per tonne, 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 Vancouver or St. Lawrence.
| Grade |
Initial Payment |
Adjustment Payment |
Total payment to Date |
|
No. 1 Canada Western Red Spring Wheat 12.5 |
$178.70 |
$14.45 |
$193.15 |
|
No. 1 Canada Western Amber Durum 12.5 |
$206.75 |
$13.00 |
$219.75 |
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 and durum to the CWB between August 1, 2001 and July 2, 2002, will receive an adjustment payment. The payments will be mailed on July 12, 2002 or received by direct deposit on July 9, 2002. Farmers who wish to defer payments have until July 4, 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.