CWB buyer

[TOM4CWB]

Good that the Supreme Court of Canada turned down the leave to appeal of the 'Zombies of the Single Desk' Action!

Which my guess is what allowed this decision to go forward!

What a wonderful day for Canada!

Thank You to all who made this possible!!!

Tom

[dmlfarmer]

Hold on boys! The CWB has been sold to a Foreign investment fund: SALIC for $250 million - the low end of the valuation put on it by FNA.

In checking out Salic's website: http://salic.com.sa/English/Pages/default.aspx I do have some concerns. For example, under the presidents message it states: "Saudi Agricultural and Livestock Investment Company (SALIC established in November 2011 inspired by Custodian of the Two Holy Mosques King Abdullah’s Vision. The humanitarian king wanted to maintain food supply and price. Saudi Arabia, which depends heavily on imports of its food needs, is badly in need of major agri- mega projects. Its food requirements are increasing year after year as a result of growing population. In 2010, its imports accounted for 45% of total Arab food imports of US$38.1 billion.
SALIC aims to establish a secured supply and a reservoir of food crops such as rice, wheat, barley and soybeans as well as meat. This is being achieved by broaden SALIC agri-investment activities to cover the globe."

So is this a grain company looking to sell grain for the benefit of the company and Canadian farmers, or is this a grain buyer looking to ensure cheap food for Saudi?

Second, this appears to be the first investment by SALIC and they only have between 11 and 50 employees according to their LinkIn page. No wonder Bunge needed to be involved to provide the actual expertise.

So if a private company is managing the purchased assests now owned by a foreign investment firm whose mission is to secure cheap food for one country, is this really a good deal?

Will this new firm provide the transparacy of operations that everyone on this list is demanding or will we see even less transparacny?

Are the CWB rail cars now under control of just BUNGE and SALIC

Amazing that governments are promising to review foreign ownership and fund ownership of farm land but have absolutely no qualms about selling the CWB to a foreign investment fund. And a Muslim one at that!!!

[foragefarmer]

Tom4CWB

Glad to hear your still on your Chief Spence diet, oh! I mean hunger strike.

Cheers

[TOM4CWB]

DML,

It is less than surprising that the 'ANTIMUSLIM' Anti every thing argument has been rolled out.

A wonderful opportunity to sell food to a hungry part of the world... that has money to pay for this food.

No down side to this... other than the innovators and hard working good people should get the credit for putting this together!!!

I think you may need a tinfoil hat!!!

Weird Al... has a wonderful song to describe your attitude! Enjoy!

[Braveheart]

We're not far west of Altona, and find Bunge to be a good canola marketing partner. It will be interesting to see how they approach this new venture.

I'm especially looking forward to how their facilities on the St. Lawrence might change things.

[blackpowder]

I dont think dml is necessarily wrong. But until they own farmland, we still have competition of sorts. Govts are now the one that has to get up to speed on that matter. Lets not allow the zombies to derail this serious issue as well.
I dont recall price fixing suits here as you see in US.

[tweety]

Tom, you're way out on dml's comment.

Its a secure cheap feed grain inside track for saudi protein production.

[dmlfarmer]

Sorry Tom and Agriville: The Muslim comment was made tongue in cheek and was not meant to be critical of Muslims but rather of the stance this government has taken against the middle east.
Even you Tom acknowledge the same stance with your comment regarding the political correctness of selling the CWB to Israel. There is no denying there this government has a double standard in the middle east and that is what my comment referred to.

But at the same time, I do have reservations about selling the CWB to a private, country orientated, investment fund who publically states on its own website that "the Saudi government decided to invest in agricultural business internationally to meet the Kingdom’s growing food requirements and cut short expenditure on food imports. It established SALIC, which is a joint stock company fully owned by the Public Investment Fund (PIF), solely for the purpose of meeting the country’s food needs and addressing the global food security."

I question whether this translates into a grain company trying to market Canadian grains into a global market at the best possible price or if it means it is trying to purchase Canadian grains as cheaply as possible to meet Saudi needs.

And how can Governments tell funds and foreigners they cannot purchase farmland, but can purchase the essential infrastructure that farmers need to sell what they produce?

[Rareearth]

I would like to see the numbers.

What volume of what crop types do they buy from Canada now. % canada vs other sources.

The good news is they shouldn't be able to bring grain in through the doors at a lower price than the other exporters. I'm saying they will have to pay the same price or higher. If they have any smarts about this they will contract grain and have space for delivery - no excuses. Don't screw with the grades, buy on protein and falling number, etc earn the trust of growers, don't rely on personal interpretation for grade factors. Basis, advertise, advertise I will haul- no games.

[parsley]

This deal is an act of treason.

Saudi Arabia is the major funder of ISIS.

Saudi Arabia treats women like cattle.

And Saudi Arabia maybe has money, but they are a country that does not value free speech. They will not respect Western values. SA is a country entrenched soley in Sharia Law. In fact, Surah 9 clearly states:

No agreements are valid with idolaters (which includes Jews and Christians as explained in 9:30

This is a terrible agreement not only for the farm community, but moreso for Canada as a whole, in my humble opinion, because it opens up a path for Saudi Arabia to wedge Sharia Law into Canadian communities right across Canada.

There are many G20 countries who would have been eager to get their foot into Canadian agriculture.

Saudi Arabia is not an ally. parsley