CWB Discusses Changes With KAP

Apr 17, 2015

Members of Keystone Agricultural Producers council didn't have many questions, following a teleconference with CWB regarding the full privatization of the organization.

It was announced this week that G3 Global Grain Group purchased 51.1 per cent of the company. CWB representatives Dayna Spiring and Ward Weisensel spoke with KAP members, explaining the sale and heavily focusing on the Farmer Equity Plan.

KAP President Dan Mazier says he was thrilled they took the time to speak with producers, especially since they've been so busy dealing with other aspects of the announcement.

"They made time for us out here in the producer world to say, 'Here is what we mean guys. This is your equity and this is how we deal with it.' I was really glad to see that they explained the allocation process, they explained how that was all going to work and who the companies were. I think it gave everyone a different knowledge on it too."

Very few questions were asked by the producers at the meeting, and there seemed to be very little controversy expressed. Much of the questions focused on the equity plan, which will see five dollars per tonne in equity provided to producers who go through the Canadian Wheat Board. Mazier notes three trustees will supervise the value of the equity, and send out annual reports on equity.

While the equity plan was one of the main focuses of the teleconference and the questions, Mazier says there are other benefits as well.

"You get a new buyer, we've got a new purchaser of grain in western Canada and we're moving forward with the CWB. That's the plus side, as I commented earlier we haven't seen expansion in western Canada for buyers in many, many years. It's usually consolidation or contraction, so this is a good thing."

G3 is owned by Bunge Canada, a subsidiary of a New York company, and SALIC Canada, which is a subsidiary of Saudi Agricultural And Livestock Investment Co.

CWB Discusses Changes With KAP

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