Wednesday, March 12, 2014

Egg quota transfers disappoint

Only three people sold layer quota and only four sold pullet quota on the first monthly exchange run by the Egg Farmers of Ontario marketing board.

The board is not revealing how many buyers and sellers submitted bids and offers, nor how much quota they sought. Nor is it telling producers how much the top bid price was or for how much quota.

“That information will not be shared and was never discussed or promised to be shared,” general manager Harry Pelissero e-mailed a producer who asked.

There were 21,407 units of egg quota on offer, but only 16,003 sold at a market-balancing price of $295,85. There were 16 successful buyers.

There were 78,058 units of pullet quota on offer and only 12,788 sold at a market-balancing price of $24 per unit. There were five successful buyers.

It’s the first chance producers have had to sell or buy quota since the board imposed a ban last June, saying it needed to freeze the market while the directors pondered proposals for the quota exchange.