Green Pound revaluation now a certainty

By FWi staff

A GREEN Rate revaluation now looks a certainty. Despite a recent weakening of Sterling to DM2.98 against the Deutschmark, it has since climbed back to DM2.99.

Analysts at the Home-Grown Cereals Authority predict a Green Pound revaluation of about 2.5%.

That would reduce intervention prices for May by £2.26 to £85.53/ t. Area aid payments, which are set on 1 July, would be reduced by £15.37/ha for cereals and £8.88/ha for oilseeds compared with last year.