Country 105

 

     
Country 105

Country 105


Agriculture Report

Farm Businesses Make Headlines

By

Agrium and Nufarm are involved in farm business deals.


Length:

Manitoba farmers may soon have access to a cattle price insurance program.

The Manitoba Cattle Producers Association is working with the provincial government to implement a program similar to what's in place in Alberta.

President Jay Fox says this will be a great tool for producers looking to control price risk.

He says the program will bring some stability to the industry.

The association has been meeting with provincial representatives to work out some of the details of the program.

It will likely offer up to 80 per cent coverage, based on cost of production.

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The Agricultural Producers Association of Saskatchewan has asked the Canadian Transportation Agency to implement an immediate moratorium on railway delisting of producer car loading sites, including 24 locations in Saskatchewan.

The province's umbrella farm group submitted a formal Level of Service Complaint to the agency last week.

C-N Rail's decision to close 53 sites across the Prairies has angered several farm groups.

Association President Greg Marshall says no one in the province wants to wake up on January 1st with fewer options for Prairie farmers to ship their grain.

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Opposition politicians in Nova Scotia say the province's beef industry is in crisis -- and it's time the N-D-P government did something.

Tory Agriculture critic Chuck Porter says months have gone by and beef producers have yet to hear from the government about how it plans to help their industry.

Porter says farmers are being forced to sell their product at a fraction of the cost required to produce it.

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Agrium has agreed to sell two U-S fertilizer terminals, allowing the Calgary-based fertilizer giant to clear a key regulatory hurdle in its dogged quest to buy American rival, C-F Industries.

The company will unload C-F's Ritzville fertilizer terminal in the Pacific Northwest and its own Marseilles terminal in northern Illinois if the C-F takeover is consummated.

Agrium also will give up rights to market a certain type of nitrogen fertilizer produced for it by Rentech at a manufacturing plant in East Dubuque, Illinois.

The Federal Trade Commission says the settlement with Agrium would allay concerns that a C-F takeover would eliminate competition in the market for ammonia.

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Australian farm chemicals producer Nufarm has rebuffed a revised takeover offer from China's Sinochem, agreeing instead to Japan's Sumitomo Chemical taking a 20 per cent stake.

The rejection comes a week after Sinochem corporation cut its cash-per-share offer for the company.

It is the second time a Chinese company has failed in a bid to buy Nufarm.

In 2007, a consortium led by China National Chemical Corp., or ChemChina, launched a takeover, but the plan fell apart before it could be completed.

 


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