The agricultural industry’s main representative bodies today published a code of practice to ensure no price advantage would be sought during the euro changeover.
Announced today in Dublin, the "Code of Practice on the Euro Changeover" has been agreed by the Irish Farmers' Association, ICOS (dairy co-ops, farm input suppliers, livestock marts); IBEC Food and Drink Federation; Irish Meat Association; Irish Grain and Feed Association; and the Animal and Plant Health Association.
The code has been drawn up to ensure no buyer or seller will try to increase prices or gain a price advantage during the changeover. It also hopes to give the maximum degree of price transparency.
The code also commits to dual-pricing from at least October 2001 to March 2001 to an exact conversion at the fixed rate of 0.787564 – rounded to two decimal places.
It als pledges that price quotations and payments would be done in the metric system (the imperical system may also be shown until 2003 for information only).