CP and CN exceed maximum grain revenue entitlements for crop year
CALGARY (RURAL ROOTS CANADA) – The Canadian Transportation Agency has ruled that Canada’s two major railway companies have exceeded their maximum grain revenue entitlements for the 2017 – 2018 crop year.
In a statement, the CTA says the Canadian Pacific Railway Company and Canadian National Railway Company exceeded their limits despite moving six per cent less than the volume moved during the previous crop year.
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Both will now have to pay back the amount they exceeded the limit by on top of paying a five per cent penalty.
The five per cent penalty for CP will be $75,026, while CN’s is $52,364.
The payments will go to the Western Grains Research Foundation, which funds research that benefits Prairie farmers.