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5/2/2023
The Canadian Transportation Agency (CTA) last week announced its determination of the volume-related composite price index (VRCPI) for CN at 1.8295 and Canadian Pacific Kansas City at 1.7616 for the 2023–2024 crop year beginning Aug. 1.
The figures represent an increase in the VRCPI over the last crop year of 12.11% for CN and 5.43% for CPKC, CTA officials said in a press release.
The indices will be used in determining CN’s and CPKC’s maximum revenue entitlement for the movement of western grain in the 2023–2024 crop year. The maximum revenue entitlement limits the overall revenue earned by CN and CPKC for shipping regulated grain.
Much of this year's price differential — the difference between the forecasted and actual price increases — is directly linked to unexpectedly high fuel and related material costs in 2022, agency officials said.