Saskatchewan Pulse Growers will be reducing the levy rate collected on pulse and soybeans on August 1st.

The levy rate will go from 0.67 percent down to 0.6 percent. The pulse levy is collected based on a percentage of gross sales and is deducted at the first point of sale. The money from the levy goes towards the development of new pulse varieties as well as marketing programs to encourage more pulse consumption.

SPG says the decision to reduce the levy rate was driven by continued strong acres and pulse crop prices in recent years.

This has led to SPG revenues exceeding expenses putting the producer organization in a strong financial position.

The change will see an estimated $1.5 million less in levy revenue collected.

SPG will work with pulse buyers collecting the levy to ensure their systems are ready to make the switch on August 1st.