Reading Time: 2 minutes Moscow | Reuters — Meat producer Cherkizovo and farming conglomerate Rusagro were among agricultural firms across Russia targeted in a sweeping investigation into suspected tax evasion on Wednesday. The Tax Service said so far five potential breaches had been uncovered in inspections carried out with the Federal Security Service (FSB) at agricultural holdings across 13 […] Read more
Russian agricultural firms raided over suspected tax evasion
Russia’s ag ministry to set up new grain exporters’ union
Reading Time: 2 minutes Moscow/Hamburg | Reuters — Russia’s agriculture ministry will set up a new grain exporters’ union to better understand the needs of the market, it said on Monday after its routine meeting with local grain traders. Traders interpreted it as a result of the close attention with which Russian officials have been monitoring how big exporters […] Read more
Three crew die in CP grain train derailment
Reading Time: 2 minutes Toronto | Reuters — Three crew members died on Monday when a Canadian Pacific Railway grain train derailed in British Columbia, a Transportation Safety Board (TSB) spokesman said. The accident occurred when a train carrying 40 to 60 grain hopper cars derailed near Field, B.C., the TSB spokesman said. TSB is investigating the cause of […] Read more
CP books higher Q4 grain revenue on reduced handle
Reading Time: 2 minutes Increased revenue from grain handling — albeit on a slightly lower overall grain handle — helped Canadian Pacific Railway improve its fourth-quarter and year-end gross for 2018. Calgary-based CP on Jan. 23 reported overall net income of $545 million on $2.006 billion in revenues for its fourth quarter ending Dec. 31, down from $984 million […] Read more
Alberta to buy rail cars for oil
Reading Time: 2 minutes Ottawa | Reuters — The Alberta government is in talks to buy rail cars to transport 120,000 barrels per day of crude oil and expects a deal to conclude within weeks, Premier Rachel Notley said Wednesday, as the province takes actions to move oil stuck in the region because of a lack of pipeline capacity. […] Read more
No big problems seen in grain transportation so far
Reading Time: 2 minutes CNS Canada — It’s so far, so good with grain shipments to the three major Canadian ports according, to a spokesperson with Quorum Corporation, which compiles weekly performance updates on Canada’s grain handling sector. The spokesperson said there not have been any big problems recently, only a few sporadic instances in rail shipments. There has […] Read more
CN’s grain handle up in record quarter
Reading Time: < 1 minute Traffic in Canadian National Railway’s grain and fertilizers segment rose eight per cent in its latest quarter, helping the company to record quarterly revenue. Montreal-based CN on Oct. 23 reported net income of $1.134 billion on $3.688 billion in revenues for its quarter ending Sept. 30, up from $958 million on $3.221 billion in its […] Read more
Grain handle down slightly in record quarter for CP
Reading Time: < 1 minute Grain carloads were marginally fewer but grain revenue per carload climbed 10 per cent to help Canadian Pacific Railway to its highest quarterly revenue ever. Calgary-based CP on Oct. 18 booked net income of $622 million on $1.898 billion in revenues — its “highest ever (revenues) for any quarter” — in its third quarter ending […] Read more
Grain vessel lineup rising at Vancouver
Reading Time: < 1 minute CNS Canada — The lineup of grain vessels waiting for loading at Vancouver increased to 21 for Week 8 of the grain shipping season. Reports by Quorum Corp., which monitors Prairie grain handling, stated vessels at Vancouver were up 31 per cent from the previous week (17). The increase in ships raised sentiments that grain […] Read more
Russian ag minister sees no need for wheat export duty, for now
Reading Time: 2 minutes Moscow | Reuters — Russia’s agriculture minister sees no reason for now to introduce an export duty on wheat and is not considering one, he was quoted as saying by RIA news agency on Tuesday. A meeting at the agriculture ministry on Friday fuelled speculation among traders that Russia could consider grain export curbs once […] Read more
A message from April Stewart, Country Guide's Associate Editor
