Investment is part of the Growing Forward 2 program
By Diego Flammini, Farms.com
Wheat producers in Western Canada who sell their crops on their own or with the help of a broker will soon have access to much more information than before, thanks to the Canadian federal government.
An investment of $742,745 from the federal government will give the Alberta Wheat Commission the power and resources to supply real-time crop and price information to the farmers as they need it.
They will also use the investment to “analyze gaps in crop data and price reporting for grains and offer a web solution that provides industry with timely, accurate and transparent market information,” according to a release sent out by Agriculture and Agri-Food Canada.
"The Crop Data and Price Reporting project will significantly improve producers' access to the information necessary to capture the best opportunities and maximize the returns on their crops,” said Kent Erickson, Alberta Wheat Commission Chairman in a release. “Improved price transparency through a single information source marks a major step forward for our industry, and will bolster the competitive edge for all participants in the agricultural commodity trade in Canada.”
This initiative comes as a response to concerns from industry professionals about how and where they can access market information. The projects will provide pricing and other information for everyone across the wheat industry including producers, elevators, and transporters.
"Our Government knows that producers need access to reliable and timely information in order to make informed marketing choices,” said Agriculture Minister Gerry Ritz. “This investment will provide producers with the tools they need to proactively manage risk, grow their businesses and our overall economy."