CWB Special Account

[melvill]

There were some comments about the CWB special account in another thread related to China. That got my curiosity about the account going. Here's what I learned:

1. Special account funds come soley from uncashed producers' cheques.
2. Funds not added to special account until six years from issue date.
3. Account has been in place a very long time.
4. Board honors all cheques regardless of age even if value moved to special account. Most recent honored cheque was 20 years old.
5. Board tries to contact payee of uncashed cheques by contacting payee directly, payee's family, elevator, Farm Business Rep., and, if deceased, executors of estate, if possible.

More details on the general account are on page 89 of the annual report.

Seems to be some producer disagreement with how the funds are used. Any other ideas on how to better use the funds?

[parsley]

I'm sure this never occurred to either the Board or you melvill, but


PUT THE DAMN MONEY INTO THE POOLING ACCOUNTS for farmers, yes farmers, one more time...farmers, not some Beijinger riding high on the hogs.

Plural.


Parsley

[parsley]

Country Guide
August 21, 2008


"CWB Graduate Scholarships Support Healthier Bran Research

Research into a new type of wheat bran with improved bioactive health benefits is one of four graduate projects supported bythe 2008 CWB fellowship awards.

Called NovaBran, the specially treated bran has shown great promiseduring preliminary studies for use in functional food and nutraceuticals. Researchers at the University of Manitoba's Department of Food Science believe the novel bran has a range of potential healthbenefits far beyond what normal wheat bran can provide.

NovaBran also improves the aroma and flavour of whole-wheat products and increases the mixing strength of whole-wheat flour dough.

Another funded research project, at the University of Saskatchewan,focuses on enhancing the bright yellow colour in durum wheat, which is a competitive edge in international semolina and pasta markets. A thirdstudent is engaged in the battle against the devastation of fusarium head blight in wheat. The final recipient will study the financial implications for farmers of trading in the international carbon-credit markets.

"Not only do these projects all have direct benefits for grain producers, they help to support and encourage the next generation of agricultural researchers," said Larry Hill chair of the CWB's board of directors. "Ongoing research is crucial to improve plant breeding lines, develop important new uses for our grain and keep up with market trends. In such a competitive international market, we cannot afford to be complacent."


Do the grad students get less funding if farmers have a crop failure?

My, what a concept.

Parsley

[melvill]

The CWB Act requires a contingency fund as a way of perpetually guaranteeing payment to producers who have "lost" or "misplaced" interim or final payment cheques. Without a contingency fund, funds to cover found "lost payments" would have to come from the pools.

[parsley]

A fund is proper.


But according to the CWB themselves, on their own webpage, the CWB already snitches from this special account fund and it is obviously a common practice.

Instead of snitching from the special accounts fund to buy/sponsor/ other projects...why not deposit some of it it into the pooling accounts? It can be just as "available" for lost-payouts as paying for a facility in Beijing

Identify it as an item on the audited sheet, so there is no mistake.

Farmers' money going to farmers for a change. Think about that.

It's almost like the CWB vicariously "straightened" out my reasoning this morning, melville, when I read your post.

I'm sure they'd appreciate if you E-mail them and tell them Western Canadian farmers could better use that money, thank you very much.

Maybe also Email the CWB and explain to them that according to the following that they posted on their website......

QUOTE
Beijing - The CWB and the China Cereals Oilseeds and Foodstuffs Corporation (COFCO) are pleased to announce their joint plans for a training and technical centre in Beijing.

The centre, slated to open in April 2007, will support China's milling and food-processing industry.

"Due to strong economic growth and increased demand for premium-quality, wheat- based foods, China is poised to become an even more important market for western Canadian wheat," said Adrian Measner, CWB president and CEO, in Beijing to attend celebrations marking the CWB's 70th anniversary.

"This technical centre will provide Chinese wheat processors with the information they need to make the most of this high-quality product. It will pay dividends for western Canadian farmers by strengthening China's demand for Prairie wheat."UNQUOTE


that what the CWB has essentially done is help CHINA to value add, and the CWB has helped fund China's value-added industry with Western Canadian farmers' money.

All the time, while helping China, the CWB has discouraged and prevented Canadian farmers from value-adding. Ask the pasta folks.


melvill, my farmer-way-of-thinking logic, plus the CWB's own information, tells me your explanational-defense of what the CWB has done... is indefensible.

Parsley

How many CWB Directors voted to give China money for value-added facilities, for gawd's sake..farmers' money, and at the same time voted to deny Western farmers the opportunity to deliver their OWN grain to a value-added facility?

I's like to examine the voting to appropriate Beijing money in the Board minutes.

Squirm.