Canada Wheat Board (CWB) has begun construction of its first high-throughput grain elevators in what will hopefully be a Canadian network. CWB’s new elevator near Portage la Prairie will have a capacity of 33,900 tons of crop storage and should be ready to receive grain for the 2015 harvest. The company plans to establish an infrastructure network and a foothold in Port Metro Vancouver, the country’s biggest port to become an independent player in the country’s grain industry. CWB has downsized since August 2012 when the Canadian government removed its monopoly on most western Canadian wheat and barley, but has started to establish its own facilities since November when it acquired Mission Terminal Inc. from Upper Lakes Group and in January when it bought a 10% stake in Prairie West Terminal, a farmer-owned network in Saskatchewan. CWB and the Canadian government have not yet agreed upon a privatization process for the company, however once an agreement is reached CWB would be looking to add a strategic investor.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free bi-weekly enhanced eNews service