According to a recent article in Farming Sector, a “‘No deal’ Brexit could cost food retailers and suppliers £9.3bn.  The Barclays report shows specific duties in result of a no deal will disproportionately target certain products including meat, cereal, olive oil, wine and sugar-based foods.”

 

In addition, “Some products would also attract ‘specific duties’, which are tariffs levied on a per unit basis; that is, by weight or volume. The Barclays report shows specific duties disproportionately target certain products including meat, cereal, olive oil, wine and sugar-based foods. By their nature, these tariffs place a higher burden on lower-value transactions.

 

Richard Strongman, Managing Director at Harvest Fine Foods, feels it will still take some time to be able to plan ahead: “Uncertainty around Brexit negotiations makes it difficult for us to forecast with any certainty what will be the impact on product availability from the EU or any possible price impacts. So many products, even those that are manufactured here in the UK are in some way dependent on component parts or ingredients from Europe. Ultimately the UK represents a HUGE marketplace for European goods and in the event that a deal cannot be reached it won’t only be the UK that suffers. From our point of view we trust that our European trading partners are exerting pressure on their governments to enable a smooth transition and we can only hope that good sense will prevail”

 

To read the full article, click here: https://bit.ly/2ReQCbE