Newsroom
2002
November 29, 2002
Final payments for 2001-02 crop year announced
Winnipeg - The CWB’s board of directors today announced that farmers will soon be receiving final payments for wheat, durum wheat, feed barley and designated barley marketed by the CWB in the 2001-02 crop year. The crop year began August 1, 2001 and ended July 31, 2002. Final payments represent the balance of the money owing to farmers after their grain has been marketed through the CWB, and after operating costs have been deducted.
Cheques and direct deposits should be issued in December, pending approval of the amounts that have been recommended by the CWB. This would enable the CWB to again issue final payments before the end of the calendar year, as it did with the final payments in the 2000-01 crop year.
“We’re committed to getting farmers their money as quickly and as efficiently as we can,” said Ken Ritter, chair of the CWB’s farmer-controlled board of directors. “Getting the final payment out in December is a priority because, as farmers, we know just how tough it is to meet cash flow requirements.”
Final payments, in dollars per tonne, for the base grades in each pool account are listed below. These payments are as recommended by the CWB and are subject to approval before distribution. The total payment is based on the value of grain in store at Vancouver or the St. Lawrence.
| Grade |
Initial payment
|
Interim payment
|
Final payment
|
Total payment
|
| No. 1 Canada Western Red Spring Wheat 12.5 |
$193.15
|
$8.00
|
$10.39
|
$211.54
|
| No. 1 Canada Western Amber Durum Wheat 12.5 |
$219.75
|
$34.00
|
$9.99
|
$263.74
|
| No. 1 Canada Western Barley |
$137.00
|
$30.00
|
$13.00
|
$180.00
|
| Special Select Canada Western 2-Row | ||||
| Designated Barley |
$202.00
|
None
|
$8.74
|
$210.74
|
| Special Select Canada Western 6-Row | ||||
| Designated Barley |
$177.00
|
None
|
$9.01
|
$186.01
|
When the final payments are officially approved, the CWB will provide details about when payments will be mailed or deposited directly into farmers’ accounts. Farmers can defer their payments by calling the CWB at 1-800-275-4292.
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.