If Farmers of North America (FNA) wants to establish its own grain company, it will have to do so without the assets of the CWB.
FNA and Agracity Crop and Nutrition have learned that their bid to acquire the CWB has been rejected by CWB management.
Despite the decision, FNA says the plan to establish Genesis Grain and Fertilizer Limited is still going ahead and that they will continue to meet with farmers about their interest in the CWB and work with government despite being told that they are out of the running.
"If enough of us respond with sufficient dissatisfaction with the CWB position there is always a chance they will change their mind," said FNA President James Mann. "However, it is clear that if we are silent on who the majority owner should be, the final decision on a new majority owner, according to media reports, may imminently be made by the CWB. And it will not be farmers."
Mann is asking Agriculture Minister Gerry Ritz to instruct CWB management to give farmers an equitable opportunity to acquire the CWB.