Agricore United Reports Reduced Grain Share

WINNIPEG - Mar 18/04 - SNS -- Agricore United reports that its share of the western Canadian grain handle at primary elevators slipped from 35.5% during the November to January quarter of the 2002-03 marketing year to 33.1% this season.

However, its share of the grain handle for the 12-months ending January 31 increased from 33.9% to 35.3%, the company said in announcing second quarter results for its 2003-04 fiscal year.

The Canadian Grain Commission (CGC) reported that industry shipments of the six major grains (wheat, barley, oats, canola, flax, peas) were 6.8 million MT in the three months ended January 31, 2004, an increase of 2.6 million MT (63%) over the same period in 2003 – reflecting a return to more normal shipping patterns.

Nevertheless, this was still only 78% of industry shipments in the same quarter ended January 31, 2001 (prior to the effects of either the 2001 or 2002 droughts). The timing of shipments of Canadian Wheat Board (CWB) grains (wheat, durum and barley) was the predominant reason for the reduction in 2004 shipments compared to 2001.

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