The CWB announced that 2009-10 initial payments for designated barley will increase by $26.50 per tonne, effective March 18, 2010. This payment value will apply to all grades and classes.
The adjustment payments, in dollars per tonne, for representative grades are listed below. The total initial payment to date is basis in-store Vancouver or St. Lawrence and must be adjusted for freight/elevation charges to arrive at farm gate prices. A complete listing of payments for all grades in dollars per tonne and dollars per bushel is available online.
Farmers who delivered designated barley to the CWB between August 1, 2009 and March 17, 2010 will receive an adjustment payment. Payment will be issued to producers by direct deposit on March 30. Farmers who receive payment by cheque can expect to begin receiving their cheques in the mail by April 9.
Farmers who wish to defer payment have until March 24 to notify the CWB by calling 1-800-275-4292.
Initial payments should not be confused with monthly Pool Return Outlooks, which are CWB estimates of farmers’ total returns from each pool account. Rather, initial payments represent a portion of the returns farmers can expect from the sale of their grain over the entire year.
During the crop year, the CWB regularly reviews the initial payments and recommends adjustment payments if market conditions and sales progress warrant. The Government of Canada guarantees initial payments and therefore approves the level at which they are set.
