Maple Leaf Foods profit falls 24 per cent

Canadian food processor Maple Leaf Foods reported a 24 per cent drop in quarterly profit Oct. 31, after the company took a $13-million charge in the value of its hogs. Net earnings for the third quarter ended Sept. 30 fell to $32.6 million, or 22 cents per share, from $43 million, or 29 cents, a

Potash sales suffer as China and India stop buying

Reuters / PotashCorp of Saskatchewan’s third-quarter earnings fell 22 per cent as a standoff over new contracts led to a sharp drop in shipments to China and India, the world’s two biggest consumers of the company’s namesake crop nutrient. Overseas potash shipments by North American producers dropped by one-quarter to 1.9 million tonnes in the


Agrium doubling dividend under shareholder pressure

Reuters / Fertilizer maker and ag retailer Agrium said Oct. 22 it plans to double its annual dividend, marking its third increase to the payout in less than a year. The move, announced as the Calgary company completed a $900-million share buyback, comes amid pressure from its largest shareholder, Jana Partners LLC, which wants Agrium

Déjà vu all over again?

You could say a lot about the federal government’s process for ending the Canadian Wheat Board’s single-desk monopoly this week, and many have. But you have to admit Gerry Ritz’s timing was impeccable. Or rather, he lucked out. With commodity prices soaring due to the fiercest drought to grip the U.S. in more than half


Canada’s Harper says Viterra bid not “primarily” foreign

reuters / Canadian Prime Minister Stephen Harper said March 25 that the structure of Glencore’s $6.1-billion deal to buy No. 1 Canadian grain handler Viterra means it should not necessarily be seen as a full foreign takeover. Harper’s comments come as the Canadian government and regulators begin reviewing the offer by Swiss-based Glencore, already the

Letters – for Nov. 17, 2011

We welcome readers comments on issues that have been covered in the Manitoba Co-operator.In most cases we cannot accept open letters or copies of letters which have been sent to several publications. Letters are subject to editing for length or taste. We suggest a maximum of about 300 words. Please forward letters to ManitobaCo-operator, 1666DublinAve.,Winnipeg,


PotashCorp Profit Soars On Strong Demand

PotashCorp, the world s top fertilizer maker, said Oct. 27 its quarterly profit more than doubled, as strong grain prices boosted demand for its crop nutrient products. Despite wides pread economic concerns during the quarter, the push to capitalize on strong crop prices continued to support demand for fertilizer around the globe, the company said.

In Brief… – for Aug. 4, 2011

CWB lowers new-crop PROs:The Canadian Wheat Board has lowered new-crop wheat, durum and barley values for the upcoming crop year beginning August 1. In setting its latest PROs, the board cited U.S. economic uncertainty; a higher Canadian dollar; increased production in Russia, Ukraine, Kazakhstan; higher Russian wheat sales; improving durum production outlook, and reduced weather


It’s The Economy, Stupid

Canada’s ruling prime minister, Stephen Harper, seems to have persuaded voters that, as an “economist,” he is fit to rule the country, since there is nothing more important than “the economy.” But just what is it that he is talking about? An economy is how we organize our material affairs, from the household to the

Harvest Cattails To Divert Phosphorus, Says IISD

Phosphorus in run-off water is turning Lake Winnipeg into the “most eutrophic” of all the large lakes on Earth. But on the other hand, phosphorus is a valuable nutrient that is arguably more strategically important to modern economies than crude oil. But what if the cattails in Netley Marsh were harvested and pelletized into solid