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Volume 78: debated on Monday 29 April 1985

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asked the Minister of Agriculture, Fisheries and Food if he is able to announce the guaranteed price for wool for the 1985–86 marketing year.

I have been glad to note that the prices of British wool have been much stronger over the last year or so, partly due to the British Wool Marketing Board's successful efforts in developing new markets for British Wool both at home and abroad.In all the circumstances, I consider that it would be reasonable to make a further increase of 9 pence in the guaranteed price for wool and it will accordingly be set at 129p/kg for the 1985 clip. This will allow producers to benefit significantly from the improved trading position whilst enabling the Board to make further repayments to the Exchequer under the stabilisation arrangements.