Stronger sterling sees EU payments cut by 5%

Farmers in Wales will receive less money from the European Union in 2010. The rules governing the Single Farm Payment add up to a decrease of 5.4% on the 2009 payment. This compares with a 15% increase in 2009. The exchange rate of the euro against sterling is behind the decrease.

Reductions in revenue coming into Welsh agriculture as a result of the Euro / Pound exchange rate were described by NFU Cymru’s President, Ed Bailey, as not only a blow to farmers, but also to rural businesses that depend on the farmers who trade with them.

• Primary Source

http://wales.gov.uk/topics/environmentcountryside/farmingandcountryside/farming/singlepaymentschemesps/?lang=en http://wales.gov.uk/topics/environmentcountryside/farmingandcountryside/farming/singlepaymentschemesps/?lang=en

NFU Cymru: Press Release, 1.10.10: Single Farm Payment Exchange Rate Confirmed http://www.nfu-cymru.org.uk/News/Single-Farm-Payment-Exchange-Rate-Confirmed/

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