Agriculture

Brace for familiar Canada-U.S. trade anxiety

James McCarten, The Canadian Press 6 minute read Updated: Yesterday at 3:10 PM CDT

WASHINGTON - It's been less than three years since the U.S.-Mexico-Canada Agreement replaced NAFTA as the law of the land in continental trade, and there are already hints of the existential anxiety that preceded it.

That's because of the so-called "sunset provision," a clause that reflects the lingering working-class distrust of globalization in the U.S. that helped Donald Trump get elected president back in 2016.

Article 34.7 of the agreement, the "review and term extension" clause, establishes a 16-year life cycle that requires all three countries to sit down every six years to ensure everyone is still satisfied.

That clock began ticking in the summer of 2020. If it runs out in 2026, it triggers a self-destruct mechanism of sorts, ensuring the agreement — known in Canada as CUSMA — would expire 10 years later without a three-way consensus.

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Military and minerals: the new Canada-U.S. agenda

James McCarten, The Canadian Press 5 minute read Preview

Military and minerals: the new Canada-U.S. agenda

James McCarten, The Canadian Press 5 minute read Sunday, Mar. 19, 2023

WASHINGTON - U.S. President Joe Biden will spend two days in Canada beginning Thursday to meet with Prime Minister Justin Trudeau and speak to a joint session of Parliament, his first visit north of the border since taking the oath of office in 2021.

Visits to Canada have historically been a popular first foreign trip for new presidents — Jimmy Carter and Donald Trump being the rare exceptions — but COVID-19 intervened twice in the years since Biden's inauguration to prevent one from happening.

Here are some of the issues the two leaders are likely to discuss.

Modernizing Norad: Until last month, the binational early-warning system known as the North American Aerospace Defence Command might have been best known for tracking Santa Claus on Christmas Eve. But a February flurry of unidentified flying objects drifting through North American airspace, most notably what U.S. officials insist was a Chinese surveillance balloon, exposed what Norad commander Gen. Glen VanHerck described as a "domain awareness gap": the archaic, Cold War-era system's ability to track small, high-flying, slow-moving objects. Coupled with the brazen ambitions of Russian President Vladimir Putin, the ongoing but largely opaque joint effort to upgrade Norad — rarely mentioned in past Trudeau-Biden readouts — is suddenly front and centre for both governments.

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Sunday, Mar. 19, 2023

President Joe Biden, Mexican President Andres Manuel Lopez Obrador, and Canadian Prime Minister Justin Trudeau arrive for a news conference at the 10th North American Leaders' Summit at the National Palace in Mexico City, Tuesday, Jan. 10, 2023. U.S. President Joe Biden will spend two days in Canada beginning Thursday to meet with Prime Minister Justin Trudeau and speak to a joint session of Parliament, his first visit north of the border since taking the oath of office in 2021. THE CANADIAN PRESS/AP-Andrew Harnik

Finally, PM gets home advantage for Biden meeting

James McCarten, The Canadian Press 6 minute read Preview

Finally, PM gets home advantage for Biden meeting

James McCarten, The Canadian Press 6 minute read Sunday, Mar. 19, 2023

WASHINGTON - Joe Biden's last official visit to Canada came with a palpable sense of foreboding.

Change was in the air. Authoritarian leaders in Syria and Turkey were consolidating power. Britain had voted to leave the European Union. And Donald Trump was waiting in the wings to take over the White House.

"Genuine leaders" were in short supply, and Canada and Prime Minister Justin Trudeau would be called upon to step up, said the U.S. vice-president, who was on a farewell tour of sorts in the waning days of the Obama administration.

Six years later, Biden is coming back — this time as president — and the world is very different. His message likely won't be.

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Sunday, Mar. 19, 2023

Prime Minister Justin Trudeau and U.S. vice-president Joe Biden walk down the Hall of Honour on Parliament Hill in Ottawa on Friday, December 9, 2016. Biden will once again sit down with Trudeau in Ottawa beginning Thursday, his first official visit to Canada as U.S. president. THE CANADIAN PRESS/Patrick Doyle

Much to learn from pre-European farming on the Prairies

Laura Rance 4 minute read Preview

Much to learn from pre-European farming on the Prairies

Laura Rance 4 minute read Saturday, Mar. 18, 2023

The prevailing narrative about agriculture’s origins on the Canadian Prairies ties it to the arrival of the Selkirk Settlers just over 200 years ago.

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Saturday, Mar. 18, 2023

The prevailing narrative about agriculture’s origins on the Canadian Prairies ties it to the arrival of the Selkirk Settlers just over 200 years ago.

Horses from Winnipeg sent abroad for slaughter

Janine LeGal 6 minute read Preview

Horses from Winnipeg sent abroad for slaughter

Janine LeGal 6 minute read Saturday, Mar. 18, 2023

Horses have forever been admired, featured prominently in popular children’s books and television programs, noted for being sleek, majestic, poetry in motion. But they also have a high level of emotional intelligence. A University of Sussex study found that horses can read emotional cues from our facial expressions, not only recognizing human emotions, but also deeply absorbing them.

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Saturday, Mar. 18, 2023

RUTH BONNEVILLE / WINNIPEG FREE PRESS

‘Anyone who has spent a lot of time with these highly sensitive, sentient animals knows they experience a wide range of complex emotions: joy, pain, distress and pleasure; have family bonds, and friendships no different than any other living being. Working with horses, we know these gentle giants feel very deeply’

— Colleen Walker

Pot 'price war' causing 'significant' damage: HEXO

Tara Deschamps, The Canadian Press 3 minute read Preview

Pot 'price war' causing 'significant' damage: HEXO

Tara Deschamps, The Canadian Press 3 minute read Friday, Mar. 17, 2023

Hexo Corp.'s chief executive says he's seen a "price war" take shape over the last five months that could cause "significant" damage to Canada's cannabis industry.

"No one wins in a price war," Charlie Bowman told analysts on a Friday call.

"A lot of the especially smaller independent retailers are bleeding from a standpoint of just the plethora of retailers that are on the market right now and undercutting one another."

Statistics Canada said a gram of legal cannabis cost $10.29 on average in 2019, the year after recreational cannabis was legalized in Canada (more recent prices were not available). At that time, a gram of weed bought through the illicit market cost $5.96.

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Friday, Mar. 17, 2023

A flowering cannabis plant is seen during a tour of the Hexo Corp. facility, Thursday, October 11, 2018 in Masson Angers, Que. THE CANADIAN PRESS/Adrian Wyld

Canadian milk plant a sign of Ukrainian resilience

Laura Osman, The Canadian Press 5 minute read Preview

Canadian milk plant a sign of Ukrainian resilience

Laura Osman, The Canadian Press 5 minute read Wednesday, Mar. 15, 2023

KRASNE, Ukraine - The cows on Lyuba Pastushok's farm are like her "cheeky children," she explained in Ukrainian as she walked among her growing herd, gently cooing to them and softly petting their heads.

A few years ago there were only five cows on her small family operation in Holoskovychi, a rural community an hour and a half east of the nearest city of Lviv, in western Ukraine.

Now she tends to 25 cows, six of which she bought after Russian forces invaded the country.

Wrapped up against the cold with a kerchief tied over her head, the Ukrainian matriarch pointed out each by name, her voice full of motherly pride.

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Wednesday, Mar. 15, 2023

Lyuba Pastushok tends to her growing herd of cattle on her family farm in Holoskyovchi in western Ukraine on Feb. 20, 2023. THE CANADIAN PRESS/Laura Osman

Eight skunks found dead in B.C. had avian flu

The Canadian Press 2 minute read Preview

Eight skunks found dead in B.C. had avian flu

The Canadian Press 2 minute read Monday, Mar. 13, 2023

VICTORIA - Eight skunks found dead last month in Vancouver and nearby Richmond, B.C., tested positive for avian flu.

British Columbia's Ministry of Agriculture says the skunks were infected with the same H5N1 strain that has caused the deaths of millions of domestic poultry since the outbreak began in April last year.

The skunks were found in residential areas in both cities and were taken to B.C.'s Animal Health Centre over concerns they may have been deliberately poisoned.

The ministry says in a statement the skunks may have contracted H5N1 by scavenging on infected wild birds.

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Monday, Mar. 13, 2023

A skunk is seen in an undated handout photo. Eight skunks found dead last month in Vancouver and nearby Richmond, B.C., tested positive for avian flu. THE CANADIAN PRESS/HO-Critter Care Wildlife Society, *MANDATORY CREDIT*

McCain to make $600M investment in southern Alta.

Amanda Stephenson, The Canadian Press 2 minute read Preview

McCain to make $600M investment in southern Alta.

Amanda Stephenson, The Canadian Press 2 minute read Monday, Mar. 13, 2023

CALGARY - French fry giant McCain Foods Ltd. has announced it will spend $600 million to double the size of its potato processing facility in southern Alberta.

The Toronto-based food manufacturing company — which boasts that it makes one in every four French fries produced worldwide — is making the largest investment in its history in order to double output at its Coaldale facility, just east of the city of Lethbridge.

McCain said the project will create two new production lines, one for French fries and one for other frozen potato specialty products. Once completed, the expansion is expected to create 260 new jobs, more than doubling the facility's current workforce.

"We are projecting strong volume growth over the next five years and need this expansion to accommodate the expected growth," said McCain Foods CEO Max Koeune in an emailed statement.

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Monday, Mar. 13, 2023

Maple Leafs Foods CEO Michael McCain waits to appear as a witness at the Standing Committee on Agriculture and Agri-Food investigating food price inflation in Ottawa, on Monday, March 6, 2023. McCain Foods says it will spend $600 million to double the size of its potato processing facility in southern Alberta. THE CANADIAN PRESS/Spencer Colby

Transformation needed for carbon net-zero

Laura Rance 4 minute read Preview

Transformation needed for carbon net-zero

Laura Rance 4 minute read Saturday, Mar. 11, 2023

As keynote presentations go, the kickoff speaker’s at a virtual conference on the sustainability of Canadian agriculture this week was a bit of a downer — at least initially.

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Saturday, Mar. 11, 2023

As keynote presentations go, the kickoff speaker’s at a virtual conference on the sustainability of Canadian agriculture this week was a bit of a downer — at least initially.

Biden to finally visit Canada March 23-24

James McCarten, The Canadian Press 6 minute read Preview

Biden to finally visit Canada March 23-24

James McCarten, The Canadian Press 6 minute read Thursday, Mar. 9, 2023

WASHINGTON - U.S. President Joe Biden will travel to Ottawa on March 23 to meet with Prime Minister Justin Trudeau on Canadian soil, his first visit north of the border since taking the oath of office in 2021.

The president and his wife Jill Biden will spend two days in Canada, the White House confirmed Thursday, although a detailed itinerary has not yet been released.

The two leaders will discuss ongoing upgrades to the aging, jointly led Norad continental defence system, which came under heavy scrutiny last month when a Chinese surveillance balloon drifted through U.S. and Canadian airspace.

Fears, too, about unchecked Russian aggression and the ability of the two countries to defend the continent's northern frontier have only accelerated in the year since the start of Vladimir Putin's bloody invasion of Ukraine.

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Thursday, Mar. 9, 2023

President Joe Biden, left, Prime Minister Justin Trudeau, right and Mexican President Andres Manuel Lopez Obrador, arrive for a news conference in Mexico City, Tuesday, Jan. 10, 2023. Biden will travel to Ottawa on March 23 for two days in Canada, his first visit in person since taking office in 2021. THE CANADIAN PRESS/AP-Andrew Harnik

$15 million for N.S. fruit growers who lost crops

The Canadian Press 2 minute read Preview

$15 million for N.S. fruit growers who lost crops

The Canadian Press 2 minute read Thursday, Mar. 9, 2023

WOLFVILLE, N.S. - The Nova Scotia government announced today it will give $15 million to growers of grapes and other fruit whose crops were destroyed in last month’s extreme cold snap.

Agriculture Minister Greg Morrow, who made the funding announcement Thursday morning in Wolfville, says he hopes this funding will cover some of the “extraordinary” costs that fruit growers are facing due to damaged crops.

Steve Ells, president of the Grape Growers Association of Nova Scotia, has said that when temperatures dropped to -25 C in early February amid an otherwise unseasonably mild winter, more than 95 per cent of some of the most prized varieties of grapes in Nova Scotia were destroyed.

The Department of Agriculture says early assessments show that some Nova Scotia farms are expected to lose all of this year’s grape, raspberry, peach, cherry and plum harvests due to the cold.

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Thursday, Mar. 9, 2023

Grapes are displayed in Crousetown, N.S. on Friday, Oct. 20, 2017. The Nova Scotia government announced Thursday it will give $15 million to grape and other fruit growers whose crops were destroyed in last month’s extreme cold snap.THE CANADIAN PRESS/Andrew Vaughan

Maple Leaf Foods reports Q4 loss, raises dividend

The Canadian Press 4 minute read Preview

Maple Leaf Foods reports Q4 loss, raises dividend

The Canadian Press 4 minute read Thursday, Mar. 9, 2023

MISSISSAUGA, Ont. - Maple Leaf Foods Inc. said it's expecting modest annual growth in its plant-based protein category as the company reported a loss for its latest quarter, due in part to weaker pork markets and a cyberattack.

The Mississauga, Ont.-based food processing company raised its quarterly dividend to 21 cents, up from 20 cents, as it reported a loss of $41.5 million in the fourth quarter of 2022.

The increased payment to shareholders came as Maple Leaf said its loss for the quarter ended Dec. 31 amounted to 34 cents per share compared with a profit of $1.9 million or two cents per share in the last three months of 2021. Sales totalled $1.19 billion, up from $1.12 billion a year earlier.

"Our supply chains are normalizing now, the imbalance in our pricing for inflation is now coming into line and important Asian regions have opened up again for us," Maple Leaf Foods chief executive Michael McCain said in a statement.

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Thursday, Mar. 9, 2023

Michael McCain, Executive Chair of the Board and CEO of Maple Leaf Foods Inc. waits to appear as a witness at the Standing Committee on Agriculture and Agri-Food investigating food price inflation in Ottawa, on Monday, March 6, 2023. THE CANADIAN PRESS/Spencer Colby

Ottawa spends $160K on farmers’ mental health

Geena Mortfield 3 minute read Preview

Ottawa spends $160K on farmers’ mental health

Geena Mortfield 3 minute read Thursday, Mar. 9, 2023

BRANDON — The federal government’s decision to put up money for mental health programs for farmers has been hailed as welcome recognition of a problem that is often ignored.

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Thursday, Mar. 9, 2023

Agriculture Minister Marie-Claude Bibeau announced the $160,000 investment at the National Symposium on Agricultural Mental Health Wednesday. (Winnipeg Free Press files)

B.C. invests $200 million in food security

The Canadian Press 2 minute read Preview

B.C. invests $200 million in food security

The Canadian Press 2 minute read Tuesday, Mar. 7, 2023

VANCOUVER - British Columbia is dedicating $200 million toward boosting both the province's food bank system and overall agricultural production and resiliency.

Premier David Eby says the funding will go toward two branches of spending: adding infrastructure to food banks, such as commercial coolers, and to improve overall food production and access throughout B.C.

Part of the money will be used to enhance programs to strengthen the food supply chain; expand food production from processors, packers and retailers; and fund climate preparedness measures.

Eby says the "historic" investment in B.C.'s food security comes as a direct response to events that occurred in the past few years, when flooding, wildfires and COVID supply-chain bottlenecks "essentially cut off" crucial supply lines in the province.

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Tuesday, Mar. 7, 2023

B.C. Premier David Eby speaks during a news conference in Vancouver, on Sunday, Feb. 5, 2023. British Columbia is dedicating $200 million towards boosting both the province's food bank system and overall agricultural production and resiliency, Eby says. THE CANADIAN PRESS/Darryl Dyck

Climbing costs, market price uncertainty adds to risks

Laura Rance 4 minute read Preview

Climbing costs, market price uncertainty adds to risks

Laura Rance 4 minute read Saturday, Mar. 4, 2023

It’s standing room only at the market outlook sessions during the winter farm meeting season, as analysts throw a confusing array of graphs and charts onto the screen and peer into their crystal balls.

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Saturday, Mar. 4, 2023

It’s standing room only at the market outlook sessions during the winter farm meeting season, as analysts throw a confusing array of graphs and charts onto the screen and peer into their crystal balls.

In dry West, farmers balk at idling land to save water

Suman Naishadham, The Associated Press 6 minute read Preview

In dry West, farmers balk at idling land to save water

Suman Naishadham, The Associated Press 6 minute read Friday, Mar. 3, 2023

WASHINGTON (AP) — Tom Brundy, an alfalfa grower in California's Imperial Valley, thinks farmers reliant on the shrinking Colorado River can do more to save water and use it more efficiently. That's why he's installed water sensors and monitors to prevent waste on nearly two-thirds of his 3,000 acres.

But one practice that's off-limits for Brundy is fallowing — leaving fields unplanted to spare the water that would otherwise irrigate crops. It would save plenty of water, Brundy said, but threatens both farmers and rural communities economically.

“It’s not very productive because you just don’t farm,” Brundy said.

Many Western farmers feel the same, even as a growing sense is emerging that some fallowing will have to be part of the solution to the increasingly desperate drought in the West, where the Colorado River serves 40 million people.

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Friday, Mar. 3, 2023

Tom Brundy looks over a field that is in preparation for planting at his farm Tuesday, Feb. 28, 2023, near Calexico, Calif. Brundy, an alfalfa grower in California's Imperial Valley, thinks farmers reliant on the shrinking Colorado River can do more to save water and use it more efficiently. But one practice that's off-limits for Brundy is fallowing — leaving fields unplanted to spare the water that would otherwise irrigate crops. (AP Photo/Gregory Bull)

Phoena chief executive Greg Guyatt steps down

The Canadian Press 1 minute read Preview

Phoena chief executive Greg Guyatt steps down

The Canadian Press 1 minute read Monday, Feb. 27, 2023

VAUGHAN, Ont. - Phoena Inc. says chief executive Greg Guyatt has resigned.

The Vaughan, Ont. cannabis company says Guyatt's resignation was effective Feb. 24 and comes three years after he joined the business.

Guyatt is leaving the company behind the Liiv, SYNR.G, Xscape and Estora brands to "pursue new challenges and opportunities."

He has been replaced by Corné Melissen, who owns Phoena's majority shareholder, Kenzoll B.V.

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Monday, Feb. 27, 2023

Phonea Inc. says chief executive Greg Guyatt has resigned. Employees work with cannabis products at the packaging and extraction facility in Vaughan, Ont., on Wednesday, Dec. 19, 2018. THE CANADIAN PRESS/Nathan Denette

Much to gain from cultivating a green thumb

Laura Rance 4 minute read Preview

Much to gain from cultivating a green thumb

Laura Rance 4 minute read Friday, Feb. 24, 2023

This was a milestone week in our household. We put carrots on the grocery list for the first time in eight months.

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Friday, Feb. 24, 2023

WAYNE GLOWACKI / FREE PRESS FILES

Almost one in five Canadians took up gardening during the first year of the pandemic as a way to fill some of the extra time they had being stuck at home

Canadian aid came just in time: Ukrainian farmer

Laura Osman, The Canadian Press 4 minute read Preview

Canadian aid came just in time: Ukrainian farmer

Laura Osman, The Canadian Press 4 minute read Thursday, Feb. 23, 2023

CHERNEVE, LVIV OBLAST, UKRAINE - Oleh His marches with pride and purpose in rain-soaked mud through row upon row of large white polyethylene bags, each stamped with a Canadian logo and filled to bursting with this year's harvest of grain.

The 24-year-old grain farmer with a slight build, fair hair and braces is also a volunteer with the Ukrainian military. He splits his time between running the family farm and sourcing money and supplies for the front.

When Russia invaded Ukraine last year, His knew right away he would have a problem.

"The logistical connection of agricultural products with the rest of the world has broken," His said in Ukrainian through a translator at his farm, AgroKorovai, just 17 kilometres from the border with Poland.

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Thursday, Feb. 23, 2023

Farmer and Ukrainian military volunteer Oleh His inspects his grain crop in the small town of Cherneve in western Ukraine on Sunday, Feb. 19, 2023. He's received several grain storage sleeves from Canada through the UN Food and Agriculture Organization after the Russian invasion destabilized the country’s food supply. THE CANADIAN PRESS/Laura Osman

Trudeau says he will help farmers with inflation

Jacob Serebrin, The Canadian Press 2 minute read Preview

Trudeau says he will help farmers with inflation

Jacob Serebrin, The Canadian Press 2 minute read Wednesday, Feb. 22, 2023

LONGUEUIL, Que. - Prime Minister Justin Trudeau says the federal government is looking at how it can provide targeted aid to farmers who are struggling with inflation.

Trudeau, who made the comments at a meeting with farmers at the headquarters of Quebec's farmer's association, the L'Union des producteurs agricoles, in Longueuil, says he wants to ensure that any aid for farmers doesn't make inflation worse.

He says that while inflation has started to slow, the government wants to ensure farmers and others who are struggling can hold on for the next six months to a year.

Daniel Lebelle, a dairy and grain farmer from the Centre-du-Québec region, told the prime minister that his costs have risen 40 per cent since inflation began to rise.

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Wednesday, Feb. 22, 2023

Prime Minister Justin Trudeau takes part in a meeting with Quebec agricultural producers in Longueuil, Que., Wednesday, Feb. 22, 2023. THE CANADIAN PRESS/Ryan Remiorz

US gets OK for cattle-shooting operation in New Mexico

Susan Montoya Bryan, The Associated Press 4 minute read Preview

US gets OK for cattle-shooting operation in New Mexico

Susan Montoya Bryan, The Associated Press 4 minute read Wednesday, Feb. 22, 2023

ALBUQUERQUE, N.M. (AP) — A U.S. district judge on Wednesday cleared the way for federal officials to move ahead with plans to take to the air and shoot dozens of wild cattle in a rugged area of southwestern New Mexico.

Ranchers had sought a delay, arguing that the potential mass slaughter of as many as 150 “unauthorized” cows on public land was a violation of federal regulations and amounted to animal cruelty.

After listening to arguments that stretched throughout the day, Judge James Browning denied the request, saying the ranchers failed to make their case. He also said the U.S. Forest Service is charged with managing the wilderness for the benefit of the public, and the operation would further that aim.

“No one disputes that the Gila cattle need to be removed and are doing significant damage to the Gila Wilderness,” Browning wrote. “The court does not see a legal prohibition on the operation. It would be contrary to the public interest to stop the operation from proceeding.”

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Wednesday, Feb. 22, 2023

In this photo provided by Robin Silver, a feral bull is seen along the Gila River in the Gila Wilderness in southwestern New Mexico, on July 25, 2020. U.S. forest managers in New Mexico are moving ahead with plans to kill feral cattle that they say have become a threat to public safety and natural resources in the nation's first designated wilderness, setting the stage for more legal challenges over how to handle wayward livestock as drought maintains its grip on the West. (©Robin Silver/Center for Biological Diversity via AP)

Pot companies weigh pricing after OCS margin cut

Tara Deschamps, The Canadian Press 5 minute read Preview

Pot companies weigh pricing after OCS margin cut

Tara Deschamps, The Canadian Press 5 minute read Wednesday, Feb. 22, 2023

TORONTO - Canopy Growth Corp. will hold its prices as licensed pot producers weigh whether to pass along to consumers the savings from the Ontario Cannabis Store's forthcoming margin decrease.

The Smiths Falls, Ont. cannabis company behind the Tweed, Ace Valley and 7Acres brands isn't budging on what it will charge because the pot market is already "highly competitive," chief executive David Klein said in a statement to The Canadian Press.

Canopy declined to say more about the pricing decision, which comes after it laid off 800 workers and the company reporting a $266.7 million net loss in its third quarter.

The decision comes after the OCS, the province's pot distributor, said last week that it would reduce the margins it makes on weed sales this September in a move expected to put $35 million back in the hands of licensed pot companies this fiscal year and $60 million in the 2024 fiscal year.

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Wednesday, Feb. 22, 2023

Employee Sophia Lovink arranges cannabis products at Dutch Love Cannabis Company, in Toronto on Thursday, June 11, 2020. Licensed pot producers are weighing whether to pass along the effects of the Ontario Cannabis Store's forthcoming margin decrease to consumers. THE CANADIAN PRESS/Nathan Denette

Path to finer farming

Martin Cash 4 minute read Preview

Path to finer farming

Martin Cash 4 minute read Wednesday, Feb. 22, 2023

When Mark Lepp launched FarmLink Marketing Solutions 17 years ago he was pioneering the business of providing personalized marketing recommendations for Western Canadian farmers.

This week the Winnipeg company launched a new digital product called GrainFox that, through a combination of artificial intelligence, input from its own analytical teams, current and historical market data and regional aggregate data provides up-to-date, personalized crop sales recommendations to producers.

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Wednesday, Feb. 22, 2023

Supplied

Farmlink founder and CEO Mark Lepp.

Nutrien to slightly delay potash production hike

Amanda Stephenson, The Canadian Press 3 minute read Preview

Nutrien to slightly delay potash production hike

Amanda Stephenson, The Canadian Press 3 minute read Thursday, Feb. 16, 2023

CALGARY - Nutrien Ltd. will slightly delay the timing of its plan to ramp up potash production, due to slumping sales.

The Saskatoon-based company, which is the largest fertilizer producer in the world, announced disappointing fourth-quarter financial results Wednesday evening.

Nutrien Ltd. came in below Wall Street estimates, earning $1.1 billion in the fourth quarter of 2022, down seven per cent from the same quarter a year earlier.

On a conference call with analysts Thursday, CEO Ken Seitz said Nutrien will slightly delay its previously announced plan to increase its annual potash production capability to 18 million tonnes by 2025, and will instead reach that milestone by 2026 instead.

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Thursday, Feb. 16, 2023

The Nutrien Ltd. (TSX:NTR) corporate logo is seen in this undated handout photo. THE CANADIAN PRESS/HO, Nutrien MANDATORY CREDIT

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