The exchange rate used to set direct farm payments in 2016 has increased by 17%.
Scottish Government has confirmed that the 2016 subsidy payment exchange rate had been set at £0.85228 per euro.
The rate, which is up 17% on last year, affects around 16,500 farmers who have chosen to receive their 2016 Basic Payment Scheme (BPS) monies in Sterling.
The European Commission has also confirmed that the application of a budgetary control mechanism, known as financial discipline, may be introduced again this year resulting in a reduction of just over 1% on all direct payments totalling more than 2,000 euros (£1,728).
The reduction, which will be confirmed later in the year, will affect around 14,500 farmers.
Rural Economy Secretary, Fergus Ewing, said once financial discipline was applied BPS support for those who opted for Sterling would increase by around 15% on last year.
He said he hoped the setting of the exchange rate and the launch of the government’s new BPS and greening loan scheme would provide some clarity and certainty for farmers.
Farm subsidy payment exchange rate up 17% for 2016
