Markets

Update PEI Grain Elevator Corporation December 9, 2020
G.E.C. is pleased to announce that its status as an essential service continues as the provinces only provincially licensed grain handling and marketing facility with three sites strategically located across the province. Given recent COVID-19 impacts, the hygiene focused measures and procedures we have implemented will continue in order to ensure our customers and staff remain healthy and safe! It is our intention to hold regular office hours, so please ensure you are wearing a mask and practice social distancing as required; especially when delivering or receiving product or engaging with our head office staff. The business continues to provide procurement, assembly, drying, conditioning, handling, and marketing, as well as custom storage and value adding, consisting of services such as bagging grain, trucking, roasting and extruding even with the overall decline of livestock production in the province. The business also imports specialty products, and operates grain pooling and risk management programming on behalf of participants. GEC handles all major cereal and oilseed crops and more recently smaller volumes of corn and markets them into regional domestic or International markets depending on the opportunities. Despite the impacts attributed to C.O.V.I.D-19 such as reduced pricing or price volatility, and a subsequent partial recovery, GEC wants you to know we are here for you. As well, your ability to deal with these types of issues is appreciated and something to be proud of. Despite this uncertainty, farming in P.E.I. will continue. Farmers will have to depend on the freight and distribution system to ensure access to imported farm inputs such as seed, fertilizer and crop protection products. Crops will continue to be planted harvested and marketed. Clearly GEC will, despite additional market segmentation and competition from outside buyers, continue to be there for you! The business will be offering risk management service, market updates and advice. Up to $50,000 of crop advance funding will be available to eligible Applicants Island wide and repayment will be deducted from the first product delivered. We encourage all growers to avail themselves of this opportunity by keeping GEC business accounts in good standing. GEC is implementing the incorporation of more e –banking to facilitate better and timelier account management. GEC is as well, continually assessing new market opportunities and will appreciate the opportunity to bid on a higher volume of on farm stored products. It is acknowledged that while grain pooling is an attractive marketing option, the open market provides opportunities for growers in managing their own grain marketing program. You are urged to contact General Manager Neil Campbell, or one of the three site supervisors for a competitive price quote or access to high quality handling facilities and services. Their contact information is available on the home page of this GEC website. GEC understands and appreciates the importance of high quality handling and marketing facilities for the hundreds of customers whose needs we are meeting. We also acknowledge the importance of the grain and oilseed sector as a source of regional feed, exports and contribution to sustainable agriculture in our province. Let’s hope that market resilience, open supply chains and stronger prices continue to bolster the sector as we work through these troubled COVID-19 times and anticipate farming and living in the “new normal”. Our farm practices are now noted in a voluntary national code of practice under development to ensure open export markets. We are also involved in discussions ensuring that our farmers have access to improved genetics and innovation related to soil agronomy & plant health. This is important. Good luck to all in the future, as collectively we overcome these troubling times.