Commodity Prices (Hansard, 28 June 1979)

§ Mr. Spearing
asked the Minister of Agriculture, Fisheries and Food if he will tabulate in the Official Report the changes in the United Kingdom intervention price since 1 January of each of the following commodities: common wheat, sugar, butter, beef and milk powder; and state approximately what proportion of any rise is accounted for by change in the value of £ sterling.

§ Mr. Buchanan-Smith
The intervention prices in the United Kingdom since I January 1979 are as follows:
333W
These changes result from increases in common prices and devaluations of the green pound. Changes in the market value of sterling do not affect intervention prices.

§ Mr. Spearing
asked the Minister of Agriculture, Fisheries and Food if he will tabulate in the Official Report, for each major commodity for which there is an

Increases due to

Common price increases £/tonne 5 per cent. green pound devaluation £/tonne

Wheat, barley and maize (intervention price)^* … … 1.21 4.34

Breadmaking wheat (reference price)^* … … … 1.37 4.89

White sugar (intervention price) … … … … 3.33 12.29

Oilseed rape (intervention price) … … … … 2.86 10.3

Butter—82 per cent. fat (intervention price) … … Nil 82.8

Skimmed milk powder (intervention price) … … Nil 33.64

Beef (intervention price) … … … … … 11.39 40.42

Pigmeat (basic price) … … … … … … 12.31 43.71

^* These increases relate to prices at 1 August and will be subject to additional small monthly increments to cover the cost of storage.

334W
EEC agricultural regime, the various effects of the two price adjustments recently agreed at the EEC Agricultural Council in either £ per metric tonne, or pence per pound.

§ Mr. Buchanan-Smith
Taking the main commodities, the increase in support prices for 1979–80 in the United Kingdom resulting from the decisions at last week's Council are as follows:

							Increases due to
							Common price increases £/tonne	5 per cent. green pound devaluation £/tonne
Wheat, barley and maize (intervention price)^*	…	…	1.21	4.34
Breadmaking wheat (reference price)^*	…	…	…	1.37	4.89
White sugar (intervention price)	…	…	…	…	3.33	12.29
Oilseed rape (intervention price)	…	…	…	…	2.86	10.3
Butter—82 per cent. fat (intervention price)	…	…	Nil	82.8
Skimmed milk powder (intervention price)	…	…	Nil	33.64
Beef (intervention price)	…	…	…	…	…	11.39	40.42
Pigmeat (basic price)	…	…	…	…	…	…	12.31	43.71
^* These increases relate to prices at 1 August and will be subject to additional small monthly increments to cover the cost of storage.