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Beef Premium Scheme

Volume 77: debated on Thursday 18 April 1985

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asked the Minister of Agriculture, Fisheries and Food if he will estimate by how many pence per pound the beef premium scheme is presently reducing prices in the shops.

The current maximum rate of beef variable premium is worth about 7.4 p/lb on a certified carcase. Many factors influence butchers' pricing policy, but we estimate that if retail prices of beef were to change to compensate for loss of the premium an average increase of 4 to 5 per cent. in retail beef prices would be required.