A successful first fiscal year for Grain Farmers of Ontario
GUELPH, ON (September 16, 2011) – At the September 8, 2011 Grain Farmers of Ontario Annual General Meeting, farmer members learned of the many ways the organization added value to its members in 2011 and of the surplus position of the organization that has led to a reduction in license fees for the 2012 crop year.
In addition to the positive reports from the organization’s leadership, delegates and members came together to have meaningful discussion on issues and resolutions that will affect farmer-members in the future.
“The financial reports for Grain Farmers of Ontario's first full fiscal year are very positive, ending with an operating surplus of $4 million,” said Grain Farmers of Ontario finance manager Tom Farfaras in his presentation. “This surplus is due to the record yields and quality of the 2010 crop.”
The meeting also featured interesting speakers including David Phillips from Environment Canada who shared his thoughts on overarching weather trends and why weather seems to matter so much to Canadians, especially farmers. Attendees also had an opportunity to hear from John DePutter who spoke on market trends and provided insight into both the current market conditions and future opportunities.
To see the detailed reports from each manager at Grain Farmers of Ontario and for a complete look at our financial statements, see our Annual Report here: http://gfo.ca/Annual-Report
The financials will also appear in the October issue of the Ontario Grain Farmer magazine.
Grain Farmers of Ontario
Grain Farmers of Ontario is the province’s largest commodity organization, representing Ontario’s 28,000 corn, soybean and wheat farmers. The crops they grow cover 6 million acres of farm land across the province, generate over $2.5 billion in farm gate receipts, result in over $9 billion in economic output and are responsible for over 40,000 jobs in the province.