Alberta Wheat Commission launches project aimed at improving market transparency and efficiency
(Calgary, Alberta) – The Alberta Wheat Commission (AWC) is pleased to announce the launch of a project that will significantly improve farmers’ ability tomake well-informed marketing decisions and maximize the value of their crops.
The Crop Data and Price Reporting project will lead to the development of a web-based tool that will provide information on cash grain prices for a broad range of commodities as well as data on grain movement and trade.
Agriculture Minister Gerry Ritz today announced a contribution of up to $742,725 through Agriculture and AgriFood Canada’s (AAFC’s) AgriRisk Initiatives program for the project being developed by AWC and supported by FARMCo, a grain marketing consulting firm.
The ultimate goal of the project is to create a more transparent market that ultimately improves efficiency.
"This project will close a major information gap related to cash grain prices and market data and we thank Minister Ritz for his support," said Kent Erickson, Chairman, Alberta Wheat Commission. "This information will significantly improve farmers’ access to market-related data to capture the best marketing opportunities available to them."
The website that will house the information will be known as Price & Data Quotes (PDQ) and a test version of the site has been established at www.pdqinfo.ca to introduce the concept and gather feedback.
"We saw this project as an opportunity to take a leadership role in improving price transparency in grain markets in Canada. We see the PDQ project as strategic and necessary for farmers to compete on the international stage," Erickson added.
Having up-to-date information available to marketers in a neutral, public place will benefit all participants involved in the agricultural commodity trade in Canada.
The Alberta Wheat Commission is a producer-directed organization representing the interests of and serving as a single voice for all of Alberta’s 14,000 wheat producers. www.albertawheat.com
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