E-Malt.com News article: 3324

Canada: The CWB announced on September 24 interim payments would be made on all grades of wheat, durum, malting barley and feed barley delivered to the CWB during the 2003-04 crop year. Interim payments represent partial settlement of the proceeds due to farmers from the sale of their grain. Interim payments are issued after July 31 (the crop year runs from August 1 to July 31) and are an earlier payment of proceeds that would normally be included in the final payment. The interim payments for designated barley are from $5 to $10 per tonne and the interim payments for feed barley are $8 per tonne.

According to CWB the initial payment in effect at the end of the 2003-04 crop year, the interim payment and the total paid to date, basis in store Vancouver or St. Lawrence, for base grades of wheat, durum, designated barley and feed barley.

Farmers receive initial payments when deliveries are made to the Canadian Wheat Board (CWB). The initial payment represents only a portion of the total expected value of the grain. When market circumstances warrant, farmers may also receive adjustment, interim and final payments. Adjustment payments occur during the course of a crop year when increases are made to initial payments. Only farmers who delivered prior to the initial payment increase would receive an adjustment payment. An interim payment is paid after the end of a crop year and is like an advance on the final payment. Final payments represent the remaining portion of money still owing to farmers after all crop year marketing costs have been deducted.

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 the costs of marketing, to Prairie farmers.


25 September, 2004