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Canadian Wheat Board to be sold to Global Grain Group

The federal government has approved the sale of 50.1 per cent of the Canadian Wheat Board to Saudi-owned G-3 Global Grain Group.

The sale is worth $250 million, and the wheat board says it will help develop a new coast-to-coast grain processing and shipping network. The remaining 49.9 per cent will be help by Canadian Farmers.

Agriculture Minister Gerry Ritz say the sale and privatization of the CWB is a win for Canadian farmers, while NDP critic Pat Martin is calling it economic treason and the destruction of any protection grain farmers had against exploitation by big corporations.

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