CTA announces Volume-Related Composite Price Indices for Crop Year 2025–2026 for CN and CPKC

CTA announces Volume-Related Composite Price Indices for Crop Year 2025–2026 for CN and CPKC

April 30, 2025 – Gatineau, QC – Canadian Transportation Agency

The Canadian Transportation Agency (CTA) has announced its determination of the Volume-Related Composite Price Index (VRCPI) for the Canadian National Railway Company (CN) at 1.9734 and the Canadian Pacific Kansas City (CPKC) Railway Company at 1.9349 for the 2025–2026 crop year beginning August 1st. This is an increase in the VRCPI over the last crop year of 1.72% for CN and 3.11% for CPKC.

The determination of the VRCPIs is based on detailed submissions from CN and CPKC on their historical price information for railway inputs involving labour, fuel, material, and other capital items as well as forecasted future changes in these railway price components.

These indices will be used in determining CN’s and CPKC’s Maximum Revenue Entitlement for the movement of western grain in the 2025–2026 crop year. The Maximum Revenue Entitlement limits the overall revenue earned by CN and CPKC for shipping regulated grain.

The VRCPI is an inflation factor. It reflects a composite of the forecasted prices for railway labour, fuel, material and capital purchases. As part of the process of determining the annual VRCPI, the CTA examines and verifies detailed railway submissions.

The VRCPI will be applied when the CTA makes its Maximum Revenue Entitlement determinations by December 31, 2026, for the 2025–2026 crop year.

For more information on the CTA’s maximum revenue entitlement determinations since 2000, please see Western Grain: Maximum Revenue Entitlement program.

To learn more about CTA’s mandate, please visit our website.