(Canadian Transportation Agency)
In a determination issued today, the Canadian Transportation Agency (CTA) ruled that revenues of the Canadian National Railway Company (CN) and the Canadian Pacific Railway Company (CP) have exceeded their Maximum grain revenue entitlements for crop year 2016-2017.
- CN’s grain revenue of $808,213,784 was $5,773,741 above its entitlement of $802,440,043.
- CP’s grain revenue of $725,457,448 was $1,078, 947 above its entitlement of $724,378,501.
CN and CP now have 30 days to pay the amount by which they exceeded their 2016-2017 revenue entitlements, in addition to a five percent penalty of $288,687 for CN and $53,947 for CP. Regulations stipulate that such payments must be made to the Western Grains Research Foundation, a farmer-financed and directed organization set up to fund research that benefits Prairie farmers. Click here to read more.