CWB ships its first load of canola overseas

Tue Dec 4, 2012 1:09pm EST
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* Sends 42,000 tonnes canola to Japan

* Bought the canola on cash market, through pool

WINNIPEG, Manitoba Dec 4 (Reuters) - CWB, previously known as the Canadian Wheat Board, said on Tuesday it had made its first overseas shipment of canola, marking the former monopoly grain marketer's diversification into additional crops.

CWB, based in Winnipeg, Manitoba, and a much smaller company than it was before the Canadian government stripped it of its wheat and barley marketing monopoly in August, dispatched 42,000 tonnes of canola to Japanese customers via the British Columbia port of Prince Rupert. The shipment is en route.

The CWB said it bought the canola from grain companies and farmers on the cash market, as well as through its pooling program for farmers.

CWB is a buyer of wheat, barley and canola and now competes with grain companies such as Viterra Inc and Richardson International Ltd for farmers' crops.