CALGARY – Intermountain Can-ola has been sold to Cargill Incorporated.
A U.S. subsidiary of DuPont, Intermountain breeds specialty varieties of canola, contracts growers and processes the seeds to meet customer requests.
As part of the sales agreement, DuPont will continue the specialty canola research on Cargill’ s behalf, said a news release from Intermountain, which is based in Idaho Falls, Idaho.
By selling to Cargill, the company hopes to increase its profile in the world oilseed market, said Kristi Johnson of Intermountain. Cargill intends to become the leader in the North American canola industry, she added.
Read Also
Teamwork and well-designed handling systems part of safely working cattle
When moving cattle, the safety of handlers, their team and their animals all boils down to three things: the cattle, the handling system and the behaviour of the team.
In 1994, Intermountain Canola contracted nearly half of all the canola grown in the U.S. So far, it has increased its contracted acres by 20 percent. Last year about 90,000 acres of contracted canola were grown mostly in the U.S. Pacific Northwest. Canadian farmers grew about 5,000 acres as a pilot project, said Johnson.
As part of the contract, Intermountain agrees to buy all the canola produced and will pay the farmer to store it until the seed is required.
New contracts are expected to be available after Jan. 10.
