Category: Agriculture

CN Rail moves record 2.81 million tonnes of grain for April, slightly ahead of CP

CanadianInvestor
CN Rail moves record 2.81 million tonnes of grain for April, slightly ahead of CP
MONTREAL — Canadian National Railway Co. moved a record 2.81 million tonnes of grain for April, slightly ahead of CP Rail’s record volume for the month. The country’s largest railway says the movement included 2.73 million tonnes from Western Canada, which exceeded the three-year average of 2.55 million tonnes for April. The Montreal-based railway’s all-time monthly record was 2.89 million tonnes of... Read More

Aid package to agriculture aims $252 million at multiple pressures

CanadianInvestor
Aid package to agriculture aims $252 million at multiple pressures
OTTAWA — The federal government moved Tuesday to ease multiple pressures in Canada’s agriculture industry created by the COVID-19 pandemic with the promise of a $252-million aid package. The funds fall far short of the $2.6 billion request for help last month from the Canadian Federation of Agriculture, but Prime Minister Justin Trudeau said the money is a starting point. “We... Read More

Ties forged in fires of NAFTA talks were key to Canada-U.S. border deal: Hillman

CanadianInvestor
Ties forged in fires of NAFTA talks were key to Canada-U.S. border deal: Hillman
WASHINGTON — Canada’s ambassador to the U.S. says the links the two countries forged during the 2018 talks to replace the North American Free Trade Agreement have been key to the successful shared effort to manage the COVID-19 crisis. Kirsten Hillman, who was front and centre during the negotiations that produced the U.S.-Mexico-Canada Agreement, says the resulting diplomatic ties helped foster a quick... Read More

Saskatchewan says revenues could decline by up to $3.3B due to COVID-19

CanadianInvestor
Saskatchewan says revenues could decline by up to $3.3B due to COVID-19
REGINA — The Saskatchewan government says the economic fallout from COVID-19 could reduce the province’s revenues by up to $3.3 billion. Finance Minister Donna Harpauer says it’s still early days and it remains unclear how long restrictions to slow the spread of the novel coronavirus will be in place. Officials say different scenarios on GDP and oil prices suggest revenue could decline between... Read More

Why Canadian dairy farmers are dumping milk amid COVID-19 demand changes

CanadianInvestor
Why Canadian dairy farmers are dumping milk amid COVID-19 demand changes
Some Canadian dairy farmers started dumping milk last week to rid the system of surplus production as demand from restaurants plummeted amid the COVID-19 pandemic that forced eateries across the country to close their doors. “We first started seeing milk being discarded last week,” said David Wiens, vice president of the Dairy Farmers of Canada, a national organization for dairy... Read More

World hungry for Canadian grain amid pandemic, with shipments abroad rising

CanadianInvestor
World hungry for Canadian grain amid pandemic, with shipments abroad rising
Canadian grain is in high demand as shippers try to feed a growing appetite from mills and governments seeking to shore up staple reserves amid the COVID-19 pandemic. The Chamber of Marine Commerce says grain shipments at the Port of Thunder Bay in Ontario doubled year over year in March, with vessels loading 200,000 tonnes last week and higher volumes... Read More

Agriculture sector scrambling to offset consequences of COVID-19 crisis

CanadianInvestor
Agriculture sector scrambling to offset consequences of COVID-19 crisis
CALGARY — Canada’s agriculture sector is warning of higher prices and potential food shortages if it it isn’t designated an essential service and allowed to do business as usual during the COVID-19 crisis. Already people worried about food staples have emptied some grocery store shelves, although governments have all said supplies are secure. “We’re in unknown territory. We have concerns about potential... Read More

Feds warned agricultural sector near ‘tipping point’ due to blockades

CanadianInvestor
Feds warned agricultural sector near ‘tipping point’ due to blockades
OTTAWA — The federal government is being warned that Canada’s agricultural industry is near the “tipping point” as blockades erected to protest a pipeline project in B.C. continue to wreak havoc with the country’s rail system. Mary Robinson of the Canadian Federation of Agriculture says farmers and producers are paying a heavy price despite have nothing to do with the dispute... Read More

Blockade trips up Canada’s biggest ports as shippers steer clear of rail closure

CanadianInvestor
Blockade trips up Canada’s biggest ports as shippers steer clear of rail closure
MONTREAL — A rail blockade in eastern Ontario has led to backlogs at Canada’s three biggest ports, prompting some shippers to take their business elsewhere as cargo piles up and dockworkers’ paycheques shrink. The protest along Canadian National Railway tracks east of Belleville, Ont., has halted CN’s eastern network — about one-quarter of its operations — and choked shipments from coast to... Read More

Fertilizer firm Nutrien stock growing despite fourth quarter earnings miss

CanadianInvestor
Fertilizer firm Nutrien stock growing despite fourth quarter earnings miss
CALGARY — Shares in Nutrien Ltd. rose by as much as 3.6 per cent on Wednesday after it reported fourth-quarter income that fell short of analyst expectations. The Saskatoon-based fertilizer company, which reports its financial results in U.S. dollars, said it lost US$48 million or eight cents per share on revenue of $3.44 billion in the three months ended Dec. 31. Excluding... Read More