Green Rate devaluation boosts support payments

By FW reporters

A RANGE of farm support payments was increased this morning after the Green Rate was devalued for the first time in almost three years.

The Green Rate, which is used convert Brussels payments into sterling, was devalued to Ecu = £0.689190 (£1=Ecu1.45098).

The new rate came into effect this morning, lifting a range of farm support prices by almost 1.75%.

Grain intervention prices for November deliveries climbed £1.42/t to £82.83. Barley intervention prices should rise by a similar amount.

Pigmeat export refunds climbed about £3.50 to £206.76/t.

The recently announced private storage aid for sheepmeat is worth £964.87.

Beef intervention is now worth £239.49p/100kg. Payments made under the Over Thirty Months Scheme increased almost a penny to 2.55p/kg.

Livestock headage payments and arable area payments remain unchanged due to special rules implemented to offset Sterlings strength over the past two years.

Rates of payments under the Calf Processing Aid Scheme will also remain unchanged because the old Green Rate applies until the end of November when the scheme finishes.