MELFORT, Sask. – Revenue and profits rose for Canadian Pacific Rail powered in part, by potash.
The Calgary-based railway is reporting a third-quarter profit of $891 million, up from $472 million last year. Revenue increased 19 per cent to $2.3 billion.
CP reported potash revenue was up 48 per cent.
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A Senate committee that studied last year’s historic flooding in the Fraser Valley is calling for a comprehensive flood control plan to protect the region from future and potentially worse disasters.
The agriculture committee said the federal government must invest in and help the province update its outdated flood mitigation infrastructure.
It said the plan should include a timeline for dike upgrades as well as cooperation between Canada and the U-S to address transboundary water issues.
Water from the Nooksack River was a major contributor to flooding in the Fraser Valley a year ago that impacted roughly 1,000 farms and 2.5-million livestock.
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A new report from Food Banks Canada said the number of people using food banks across the country surged to an all-time high earlier this year.
Food Banks Canada C-E-O Kirstin Beardsley called the numbers devastating.
She said the report showed there were nearly 1.5-million visits to food banks in March which is a 15 per cent jump from the same month last year and 35 per cent higher than in March of 2019.
Beardsley said rapid inflation is paired with a broken social safety net, resulting in mainly low and fixed-income groups being affected.
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alice.mcfarlane@pattisonmedia.com
On Twitter: @farmnewsNOW
