Canda's two major railways exceeded their grain cap in 2017-18, despite shipping less than last year, according to the Canadian Transportation Agency.
The Canadian Press reports the Canadian National Railway Co. reaped $1.05 million more than its maximum revenue entitlement of $787.01 million for the crop year, which ended July 31, the CTA said. Canadian Pacific Railway Ltd. took in $1.5 million beyond its entitlement of $707.99 million.
CN and CP have 30 days to pay back the excess revenue, on top of a 5% penalty of $52,000 for CN and $75,000 for CP, the regulator said. The payments will go to the Western Grains Research Foundation, which funds research for Prairie farmers.
