CTA Sets CN and CPKC Railway Price Indices for 2025–2026
Summary
The Canadian Transportation Agency has announced Volume-Related Composite Price Index values of 1.9734 for Canadian National Railway and 1.9349 for Canadian Pacific Kansas City for the 2025–2026 crop year beginning August 1, representing increases of 1.72% and 3.11% respectively over the prior year. These indices, derived from railway submissions on labour, fuel, materials, and capital costs, will inform Maximum Revenue Entitlement calculations capping CN's and CPKC's combined revenue from regulated western grain shipments, with final determinations due by December 31, 2026.
“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.”
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What changed
The CTA has published its annual Volume-Related Composite Price Index determinations for the two major Canadian Class I railways serving western grain shippers. The VRCPI for CN increased by 1.72% and for CPKC by 3.11% year-over-year, reflecting updated forecasts of railway input costs including labour, fuel, materials, and capital. These indices are applied as inflation factors in calculating the Maximum Revenue Entitlement caps that limit combined railway earnings from regulated grain movements. Grain shippers and agricultural stakeholders should note that final entitlement determinations incorporating these indices are expected by December 31, 2026, at which point any revenue excess or compliance issues would be formally assessed.
Archived snapshot
Apr 23, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
GATINEAU, QC, April 30, 2025 /CNW/ - 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.
What is the VRCPI?
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
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.
SOURCE Canadian Transportation Agency
Media Relations, Canadian Transportation Agency, [email protected], 819-934-3448
Organization Profile
Canadian Transportation Agency
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- Maximum Grain Revenue Entitlements for Crop Year 2024-2025
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Government of Canada
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