§ Mr. Hastings
asked the Minister of Agriculture, Fisheries and Food whether he is satisfied with the present working of the minimum import price system with regard to cereals, in view of the fact that the spot price of corn is below the target indicator price; and what action he proposes to take.
§ Mr. Anthony Stodart
The latest United Kingdom average spot prices for wheat and barley published by the Home Grown Cereals Authority are above the Target Indicator Prices for these cereals as the following table shows:
£ per ton Wheat 22.60* 22.75† Barley 21.80* 22.10† * Target Indicator Price. † United Kingdom Average Spot Prices for week ending 4th November as published in the bulletin of the Home Grown Cereals Authority of 8th November.
I am satisfied that the Minimum Import Price and Levy arrangements are preventing the market from being undermined by low-priced imports.