Grain Elevators Set Initial Barley Price

The Prince Edward Island Grain Elevators Corporation has established an initial pool payment for the 2000 barley crop of $100 per metric tonne. Producers should also receive interim or final payments depending on the returns received from the pool by the Corporation. The initial payment last year was $102 a tonne, with the final sales figure being in the range of $140-plus per tonne. This would return to the producer in excess of $120 a tonne.

Alan Ling, Chair of the Corporation, said he expects a steady demand for this year's crop. "In addition to local sales, we also anticipate exporting throughout the Maritime region which is in a deficit situation for barley," he said, adding that the crop this year should result in good yields.

Mr. Ling said that the Corporation will also purchase a percentage of a producer's crop for a one-time cash payment of $110 a tonne. This final sales price will be monitored weekly and is subject to change.

The Grain Elevators Corporation is the largest buyer and marketer of grains in Prince Edward Island.