§ Mr. Martenasked the Minister of Agriculture, Fisheries and Food how much beef has been taken into intervention in the last three months; how much has been sold from intervention; at what average price it was sold into and purchased out of intervention; and what were the precise figures for such transactions on the latest convenient date.
§ Mr. Hendersonasked the Minister of Agriculture, Fisheries and Food at what price beef bought into intervention has been sold over the last three months.
§ Mr. BishopSubject to final verification, purchases of beef into intervention in the United Kingdom between 15th February and 15th May 1976 were 11,135 tons. Purchase prices vary according to grade and quality of the beef. The 267W approximate average purchase price since 15th March 1976 has been 43p per lb before deduction of premiums.
The standard prices paid by the United Kingdom Intervention Board since 15th March 1976 have been:
p per lb. dressed carcase weight Grade A Grade B Great Britain Steers (medium +) 44.93 43.93 Steers (heavy) 44.44 43.44 Heifers (medium/heavy) 43.04 42.04 Northern Ireland Steers L (medium) 44.44 43.44 Steers L (heavy) 43.64 42.64 Steers T 43.91 42.91 Heifers T 42.80 41.80 + Buying suspended 3rd May. These prices are subject to deduction of the variable premium payable at the date of slaughter.
All 723 tons of beef sold from United Kingdom intervention stocks since 15th February 1976 were put in store before 31st December 1975 at an estimated average purchase price of 37p per lb. Sales have been by tender under linked sale. The average minimum sale prices for accepted tenders in February, March and April were 38.18p per lb for forequarters and 47.77p per lb for hindquarters. Sales of hindquarters by tender in April 1976 were at a minimum price of 50.27p per lb. Over the period of these sales the comparable Smithfield prices have been from 30p per lb for forequarters to 44p–52p per lb for hindquarters.
§ Mr. Hendersonasked the Minister of Agriculture, Fisheries and Food how much beef is now in intervention stores in the United Kingdom; and what is its value.
§ Mr. BishopSubject to final verification, 11,393 tons of beef valued at approximately £11 million was held by the United Kingdom in intervention stores on 15th May 1976.