Green Currency (Hansard, 13 March 1990)

§ Mr. David Nicholson
To ask the Minister of Agriculture, Fisheries and Food what is the green currency discrepancy for each EC member nation at the most recent available date.

§ Mr. Curry
The table shows the real monetary gap (RMG) for the main commodities in each member state a s at 12 March 1990. This represents the percentage difference between the green and market rate of exchange used for agriculture.
(2) what it the United Kingdom intervention price for wheat and the guide price for sheepmeat for each marketing year since 1980 in (a) cash terms and (b) at 1990 prices.

§ Mr. Curry
The information requested is supplied in the table: 195W

Common Wheat Intervention Price Real monetary gap² Value of monetary discrepancy³ Sheepmeat Guide¹ price Real Monetary Gap¹ Value of monetary discrepancy³

Beginning of Marketing Year £/tonne £/tonne⁴ 1990 prices per cent. £/tonne £/100kg £/100kg 1990prices⁴ per cent. £/100kg

1980–81 96 157 +2.7 +2.6 181 295 +6.6 +11.9

1981–82 102 154 +10.4 +10.6 195 294 +13.9 +27.1

1982–83 111 159 +9.6 +10.7 216 309 +7.9 +17.0

1983–84 114 156 +8.1 +9.3 227 311 +4.5 +10.2

1984–85 113 147 +1.2 +1.4 225 292 +4.7 +10.6

1985–86 111 139 +5.1 +5.7 227 285 -4.9 -11.1

1986–87 113 134 -10.4 -11.7 240 287 -22.8 -54.7

1987–88 118 132 -21.4 -25.2 235 264 -19.6 -46.1

1988–89 118 124 -14.2 -16.7 229 241 -8.2 -18.8

1989–90 122 122 -8.7 -10.6 229 229 -18.5 -42.3

¹ Unseasonalised guide price (85% of basic price).

² Percentage difference between the green and market rate used for agriculture.

³ Real monetary gap applied to the intervention price for common wheat and the guide price for sheepmeat. A positive sign indicates prices above, and a negative sign indicates prices below, the level obtained by using market instead of green rates of exchange.

⁴ Using implied GDP deflator at market prices. 1989–90 estimates based on 1989 Autumn Statement.

Common Wheat Intervention Price	Real monetary gap²	Value of monetary discrepancy³	Sheepmeat Guide¹ price	Real Monetary Gap¹	Value of monetary discrepancy³
Beginning of Marketing Year	£/tonne	£/tonne⁴ 1990 prices	per cent.	£/tonne	£/100kg	£/100kg 1990prices⁴	per cent.	£/100kg
1980–81	96	157	+2.7	+2.6	181	295	+6.6	+11.9
1981–82	102	154	+10.4	+10.6	195	294	+13.9	+27.1
1982–83	111	159	+9.6	+10.7	216	309	+7.9	+17.0
1983–84	114	156	+8.1	+9.3	227	311	+4.5	+10.2
1984–85	113	147	+1.2	+1.4	225	292	+4.7	+10.6
1985–86	111	139	+5.1	+5.7	227	285	-4.9	-11.1
1986–87	113	134	-10.4	-11.7	240	287	-22.8	-54.7
1987–88	118	132	-21.4	-25.2	235	264	-19.6	-46.1
1988–89	118	124	-14.2	-16.7	229	241	-8.2	-18.8
1989–90	122	122	-8.7	-10.6	229	229	-18.5	-42.3
¹ Unseasonalised guide price (85% of basic price).
² Percentage difference between the green and market rate used for agriculture.
³ Real monetary gap applied to the intervention price for common wheat and the guide price for sheepmeat. A positive sign indicates prices above, and a negative sign indicates prices below, the level obtained by using market instead of green rates of exchange.
⁴ Using implied GDP deflator at market prices. 1989–90 estimates based on 1989 Autumn Statement.