WINNIPEG (Staff) – The Canadian Wheat Board wants the ability to build up a venture capital fund so it can buy into customers’ processing projects.
Commissioner Gordon Machej told the Western Grain Marketing Panel that customers ask the board to contribute to capital projects to secure markets for grain.
The board would need a change in its legislation to be able to work on joint ventures or build a capital base. It’s one of 11 changes the CWB has asked for from the federal government.
Agriculture minister Ralph Goodale has said he will wait until the panel is finished its report before making changes to the board.
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Machej said the capital base could come from a checkoff or one-time government payment.
Ray Howe of the Saskatchewan Wheat Pool warned the board it would be treading on delicate ground it competed with an industry partner through a joint venture. Howe also said the wheat board does not need to get into the value-added business since other grain companies are covering it.
Other proposed legislative changes:
- Paying storage for grain stored on the farm.
- Creating farmer-owned ‘condo’ storage.
- Making final payments before Jan. 1.
- Buying feed barley in the cash market if pool contracts fall through.
- Providing options for early cash-out from pool accounts.
- Issuing transferable producer certificates.
- Providing forward-pricing options.
