Viterra Sale a Grim Footnote in History, says NFU

(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.

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For more information:

Terry Boehm, NFU President – (306) 255-2880

Cathy Holtslander, NFU Director of Research and Policy – (306) 652-9465