Exchange rate for 2016 BPS farm payments is best for five years
The exchange rate for 2016 Basic Payment Scheme (BPS) cheques has been set at €1= £0.85228.
This is up 16.5% on 2015 and is the most favourable since 2011.
The rate will also be used to calculate the greening and young farmer elements of the CAP direct payments regime.
Farming unions welcomed the decision, a dividend of June’s Brexit vote which saw Sterling tumbling in value .
NFU Cymru president Stephen James said it will “help cushion the blow” for farmers as they see support payments fall in the move to a flat-rate based BPS regime.
He said: “It’s a help to farm businesses in what has... read more
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