MISSISSAUGA, March 4, 2014 - Egg Farmers of Ontario (EFO) has received bids and offers to transfer egg and pullet quota and the first scheduled operation of its new electronic quota transfer system will take place on March 12.
Buyers and sellers of Ontario egg and pullet quota will now conduct transfers through a transparent and accessible electronic transfer system.
Under the new transfer system, there is a published schedule for the exchange to operate quarterly. If sufficient quota is offered to operate an exchange, the volume on offer is made public so potential bidders can take part in the exchange.
The offer deadline for the March exchange was January 23. 21,407 units of layer quota and 78,058 units of pullet quota have been offered for transfer. Potential buyers had until February 27 to submit bids and there were sufficient bids received to operate the exchange.
“Buyers and sellers seem to be showing confidence that they understand the system allows willing participants to transfer quotas at fair prices set by the market,” said EFO Chair Scott Graham.
“EFO consulted extensively with egg and pullet farmers to design the details of a made-in-Ontario quota transfer system that works for our farmers,” Graham added.
Ontario egg farmers will have a regularly-scheduled market where all buyers and sellers are guaranteed access and can participate on fair and equal terms. “All buyers and sellers will benefit from the accessibility of an effective, organized quota transfer system,” Graham said.
More information about EFO’s quota transfer system is available in the About Us section on our website at www.eggfarmersofontario.ca.
Egg Farmers of Ontario represents the approximately 440 egg farmers and pullet growers in Ontario. It is an independent, self-governing organization funded entirely by egg and pullet farmers.
For more information, please contact:
Director of Public Affairs
Eggs Farmers of Ontario