§ Mr. Boswell
To ask the Minister of Agriculture, Fisheries and Food how much green currency disparities have recently been reduced.
§ Mr. Gummer
At the farm price settlement, agreement was reached on green pound devaluations which will have the effect of significantly reducing the monetary gaps between green and market exchange rates in the United Kingdom. On the basis of exchange rates at the time of the settlement the monetary gaps for crops will be reduced by 55 per cent., for milk by 38 per cent., beef by 55 per cent., pigmeat by 86 per cent. and sheep by 56 per cent. This compares with reductions of one third originally proposed by the Commission.
Green rate changes agreed for other member states will have the effect of reducing or removing monetary gaps for all sectors except cereals in Germany and the Netherlands and cereals, rice, oilseeds, fruit and vegetables, cotton and beef in Spain where it was agreed that no changes would take place.