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Beef Prices

Volume 929: debated on Monday 4 April 1977

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asked the Minister of Agriculture, Fisheries and Food what extra payment of monetary compensatory amounts will be paid on beef entering the United Kingdom from the Republic of Ireland, as a result of its recent green pound devaluation; how much he expects domestic beef prices to fall in consequence; what steps he intends to take to support farmer's returns and at what cost.

The net increase in the United Kingdom/Irish Republic MCA as a result of the latest devaluation of the Irish green pound is equivalent to 3ยท6p lb on fresh and chilled carcase beef. It is not possible to predict how much this might affect beef prices, but United Kingdom producer returns continue to be underpinned as necessary by our current support arrangements of premiums and intervention.