Farm support rate unveiled

The euro exchange rate for calculating Basic Payment Scheme 2019 farm support payments was yesterday announced as being set at €1 = £0.89092.

The rate, an average of the European Central Bank exchange rates for the month of September, will represent a small fall of 0.21 per cent on 2018’s figure.

NFU Scotland said that the decrease matched a similar, small fall of the same scale in 2018 – but followed significant rises of 5 per cent and 17 per cent in 2017 and 2016 respectively.

“Traditionally a weak sterling is good news for support payments and should strengthen the competitiveness of UK exports, but the downside can be higher priced imported inputs such as fertiliser, animal feed and machinery,” said union policy director Jonnie Hall.