The Canadian Transportation Agency (CTA) has ruled that both Canadian National Railway Company (CN) and the Canadian Pacific Railway Company (CP) have exceeded their maximum grain revenue entitlements for crop year 2017–2018.
- CN's grain revenue of $788,062,078 was $1,047,285 above its entitlement of $787,014,793. - CP's grain revenue of $709,499,416 was $1,500,513 above its entitlement of $707,998,903.
CN and CP now have 30 days to pay the amount by which they exceeded their 2017–2018 revenue entitlements, in addition to a five percent penalty.
Regulations stipulate that such payments must be made to the Western Grains Research Foundation, a farmer-financed and directed organization set up to fund research that benefits Prairie farmers.
CN and CP moved 40,618,285 tonnes of Western grain in the 2017–2018 crop year, six percent less grain than last year.
Source : Discoverestevan