Exchange rates cloud harvest aid

ARABLE FARMERS will receive less support cash this harvest if exchange rates do not improve quickly.

Aid payments are set in Euros and converted into Pounds using the average exchange rate of the two currencies in June.

The Euro is now worth 66.5p, significantly weaker than last June‘s average of 70p.

Unless the Euro strengthens, payments will drop by almost 6%.

English cereal and oilseed producers, for example, will receive £236/ha (£95/acre) after modulation and estimated scalebacks, down from £250/ha (£101/acre) in 2003.

Lowland Scottish farmers will get £222/ha (£90/acre), and those in Wales £209/ha (£85/acre).