By Robert Harris
STERLING soared to a 10-year high against the German mark on Tuesday (31 March), putting further pressure on agriculture. Farm incomes, already down 45% in the past year, are set for another fall.
Increased imports will hit the beef and sheep sector, grain values are falling and a Green Pound revaluation looks certain on May 3.
The Pound broke through the DM3.10 barrier on Tuesday, easing back slightly on Wednesday to DM3.096. That marks a 20% increase in the exchange rate in the past 15 months (see graph, right).
For this and other stories, see Farmers Weekly, 3-9 April, 1998