Brits could turn back to cheddar if the price of French cheese shoots up after a no-deal Brexit. Tesco’s chair John Allan told the BBC that import taxes could push up the price of brie by as much as 40%.
He said it might “change the mix of what people eat”, leading to people buying more British cheddar.
He added food bills could climb by 5% on average in the event of a no-deal Brexit, with some products increasing even more.
He warned consumers could face some disruption to supplies while the industry adjusted to the new situation next year. Earlier, Mr Allen said the grocer had been stockpiling some non-fresh food as it prepares for potential shortages.
Last ditch trade talks between the UK and EU will be held later. Prime Minister Boris Johnson has flown to Brussels for talks with European Commission President Ursula von der Leyen. Time is running out to reach a deal before 31 December, when the UK stops following EU trading rules.
Mr Allen forecast that without a deal food inflation would climb between 3% and 5%, and “vastly more on some selected items”.
Despite the impact on prices, he said consumers can expect “pretty much the same choice of products” on the shelves once Tesco had adjusted to the new set-up.
Mr Allan said Tesco was able to stockpile what he called “longer-life food”, but there could be temporary shortages of “short-life fresh foods”.
He told Bloomberg: “We are trying to ensure that we have stockpiled as much as we can of long-life products either in our own warehouses or with our suppliers.”
Source: bbc.com
