2019 BPS exchange rate to be slightly lower than 2018

The 2019 Basic Payment Scheme (BPS) exchange rate has been confirmed by the Rural Payments Agency (RPA).

The euro exchange rate for calculating BPS 2019 payments made in sterling will be €1 = £0.89092.

This is slightly down on 2018 (€1 = £0.89281) and 2017 (€1 = £0.89470).

See also: Environmental Land Management scheme – what we know so far

The exact value of each entitlement will not be confirmed until November, as it is based on the total number of hectares of eligible land claimed in each region.

Andrew Atkinson, senior associate director with Strutt & Parker, said: “Farmers should expect to receive payments with a similar value to last year, which for a lowland farmer in England was about £228/ha after the Financial Discipline Mechanism had been applied.

“It has been confirmed this will continue to be the case, even if the UK does leave the European Union on 31 October.”

Farmers will be due their BPS payment from Monday 2 December.

Interest-free government loans, worth up to 90% of the expected claim value, will be available in Wales for those who don’t receive their payment on the first day.

Meanwhile, farmers in Scotland will receive 95% of their entitlement this week through the National Basic Payment Support Scheme loan.

Upcoming Webinar

AUGUST
19

How to best plan your farming retirement and pension

With BPS being phased out and new schemes being put in place in the next few years, it’s an important time for farmers to start planning retirement and the best way to secure their pensions. Whether you are considering a succession process or would like to retire from the industry outright, our panel of experts will go through all the options you need to consider no matter what your life plan looks like. Join the session at 17.00 - 18:15 on Thursday 19 August 2021.
Register