Wheat Field (Photo courtesy Agriculture and Agri-Food Canada)Wheat Field (Photo courtesy Agriculture and Agri-Food Canada)
Sarnia

Mixed Reaction To Canadian Wheat Board Deal

The National Farmers Union calls it the biggest transfer of wealth away from farmers in the history of Canada.

The NFU not happy with the sale of majority ownership in the Canadian Wheat Board to multinational Bunge and a Saudi investment company.

49 point 9 per cent of the CWB will be held in what the government calls a Farms Trust, where individual farmers will be allocated 5 dollars in equity per tonne of grain delivered.

NFU Board member Doug Scott calls that an insult - pointing out farmers who participate will have zero control over their equity stake or how the company operates.

However, the president of the Keystone Agricultural producers in Manitoba says the deal is exciting.

He say it could lead to improvements in moving Canadian grain.

Agriculture Minister Gerry Ritz says the sale will increase Canada's ability to export grain, create jobs and spawn economic growth on the Prairies.

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