European Union and U.K. Cereal Intervention Prices for the Week Ending October 22, 2004
European Union and U.K. cereal intervention prices are set based on the Home-Grown Cereals Authority and are used to determine arable area aid payments in euros and pounds sterling. The intervention prices for the week ending October 22, 2004, are as follows: wheat, oats, barley, and rapeseed. Additionally, area aid payments are outlined with modulation rates and conversion rates to euros and pounds.
Key Takeaways:
- Intervention prices for wheat are set at €144.93 per metric ton, oats at €94.29 per metric ton, barley at €124.71 per metric ton, and rapeseed at €125.23 per metric ton.
- Arable area aid payments are set in euros and pounds sterling, with a modulation rate of 3.5% applying to the 2004 English and Scottish regions.
- 2002 and 2003 rates are base payments, with 2002 English payments made on 99.43% of the eligible area and Scottish payments adjusted for a base area overshoot of 2.70%.
- An official conversion rate of GBP0.643937 is used to exchange euros to pounds sterling.
Statistics:
- Intervention price for wheat: €144.93 per metric ton
- Intervention price for oats: €94.29 per metric ton
- Intervention price for barley: €124.71 per metric ton
- Intervention price for rapeseed: €125.23 per metric ton
- Modulation rate for 2004 English and Scottish regions: 3.5%
- Base area overshoot for 2002 English region: 0.57%
- Base area overshoot for 2002 Scottish region: 2.70%
- Official conversion rate of euros to pounds sterling: GBP0.643937
Sources:
- Dow Jones Newswires - "European Union and U.K. Cereal Intervention Prices"
- Home-Grown Cereals Authority - "Cereal Intervention Prices"
- European Central Bank - "Market (or Spot) Rates"