Ceres Global Ag: Up on plan to build canola crush facility in Saskatchewan

Ceres Global Ag

25/05/2021 15:15

** Agriculture commodity company  CRP.TO  up 11.1% at C$4.90
    ** CRP plans to build a $350 mln integrated canola
processing facility in Northgate, Saskatchewan, to help meet
growing global demand for canola products  urn:newsml:reuters.com:*:nL3N2NC2VF
    ** "While there are multiple drivers contributing to this
demand, the most important is the movement towards green energy
and the need for vegetable oil as feedstock for the production
of renewable diesel" - CEO Robert Day
    ** The facility will have the capacity to process 1.1
million metric tons of canola and refine over 500 thousand
metric tons of canola oil, for both food and fuel, annually
    ** Co says facility is expected to be operational by the
summer of 2024; adds that facility is expected to result in the
creation of over 50 full-time jobs in Saskatchewan
    ** CRP up 21.6% so  far this year

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com))