Canadian National Railway Company (CN)’s grain revenue fell below its annual entitlement, and Canadian Pacific Kansas City Railway Company (CPKC) overshot its entitlement in the 2023-2024 crop year.
That’s as per the Canadian Transportation Agency’s (CTA) ruling, announced on Christmas Eve in a news release.
- CN’s grain revenue of $1,213,732,435 was $34,329,653 below its entitlement of $1,248,062,088.
- CPKC’s grain revenue of $871,716,922 was $1,824,083 above its entitlement of $869,892,839.
CPKC has 30 days to pay the excess revenue, plus a five per cent penalty of $91,204, to the Western Grains Research Foundation.
The CTA determines the two railways’ annual revenue entitlement as a form of economic regulation, the CTA said.
The total amount of Western Canadian grain moved in 2023-2024 was a bit more than 43.7 million tonnes. This was down 3.5 per cent from the previous crop year, which the CTA attributed to lower crop exports for the year.
