HGCAcereal levy up by 33%
CEREAL growers face the first increase in their Home-Grown Cereals Authority levies for five years. From July 1 the new rate will be 40p/t, a rise of 33% on last year. Taken together with smaller rises for traders and processors (see table) the levies should raise over £8.6m for R&D, market intelligence and export promotion.
A 14% rise in the oilseeds levy to 65p/t will raise about £780,000 to fund R&D and market intelligence in this area.
All levies are subject to VAT, which can be recovered in the normal way by registered businesses.
New HGCA levy rates 96/97 (p/t)
Cereal growers40 (up 10)
Dealers4.3 (up 1.3)
Processors (feed)4 (up 1)
Processors (other)8.25 (up 1.25)
Oilseed growers65 (up 8)
All levies are subject to 17.5% VAT
Effective from July 1