(Saskatoon, SK) – “Today’s shareholder vote approving the sale of Viterra to Glencore International marks a sad day for Canadian farmers,” said Terry Boehm, National Farmers Union President. “Viterra was created from the former wheat pools – co-operatives that were created and owned by four generations of prairie farmers. Now the assets they built are being sold off to an international commodity trader.”
“It is a historic day, and a grim footnote in the history of large farmer-controlled grain handling co-ops. Instead of farmers earning equity dividends like we once did, we will we be paying for these assets again through the handling charges that Glencore will collect,” concluded Boehm.
– 30 –
For more information:
Terry Boehm, NFU President – (306) 255-2880
Cathy Holtslander, NFU Director of Research and Policy – (306) 652-9465