Supplementary meat payments begin
A modified scheme of supplementary payments on beef has begun. A Meat Board spokesman said that the scheme had been made possible by exporters’ accepting a system that fitted in with the board’s view' that the decline in beef prices was likely to be temporary, coming when the beef population cycle in the United States was in the trough, in contrast to the situation a few years ago when the board first bought beef and then implemented a supplementary payments scheme. The new system entailslooking at market prices for stock now being
slaughtered some weeks hence to determine whether a supplementary payment should be made. The decision as to whether a supplementary payment should be made then — and what it should be — will be made by negotiation between exporters and the board by a procedure which has been laid down.
The board spokesman said that it was essentially a monitoring exercise.
-No payments have been made yet. There will be no change for farmers, as they will continue ,to receive the minimum price levels now ruling.
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Press, 24 April 1980, Page 14
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180Supplementary meat payments begin Press, 24 April 1980, Page 14
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