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Volume 892: debated on Wednesday 21 May 1975

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asked the Minister of Agriculture, Fisheries and Food, what estimate he has made of the likely fall in United Kingdom consumption of liquid milk when the subsidy is removed; and what plans he has made for the disposal of the resultant surplus.

It is not possible to forecast market developments, which will be influenced by many factors, including

£ per live cwt.
United Kingdom Clean Cattle1st January 19721st November 19741st May 1975
Market price (average price for the week containing these days)12·6012·7921·82
Guaranteed Prices/Target Price12·3423·20
Intervention Price United Kingdom (transitional)22·85‡§
Intervention Price EEC (full)14·17*23·87†25·75‡
The current EEC and United Kingdom intervention prices are those agreed for the 1975–76 beef marketing year. No proposals have yet been made for intervention prices thereafter.
* Converted at £1=2·4 u/a.
† Converted at £1=2·0053 u/a.
‡ Converted at £1=1·96178 u/a.
§ Subject to deduction of the value of beef premium payable at the date of slaughter.