Bunge has bought a huge elevator in Saskatchewan that closed last year when owner North West Terminal ran into financial difficulties.
Farmers have mixed reactions: happy that it’s open again, dismayed that Bunge gains even more market dominance after it took over Viterra which owns elevators once held by the big farmer-pwned provincial wheat pools.
North West Terminal was one of the largest and last remaining independent elevators in Canada.
North West Termina l(NWT) suspended all grain purchases from farmers and let its primary elevator licence expire in September, 2024.
NWT lost $28 million since 2016 and had loaned more than $48 million from the Bank of Montreal.