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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:
| 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. | ||||||||