15:20 Tuesday, 11 September 2018
Cadbury is hoping for a sweet deal.
The owner of Cadbury is reportedly stockpiling ingredients, chocolates and biscuits in case there’s a no-deal Brexit.
The European boss of Mondelēz International has told the Times that the UK is “not self-sufficient in terms of food ingredients”.
Huber Weber said the company has to prepare itself for a hard Brexit:
“Like the whole of the food and drink industry in the UK, we would prefer a good deal that allows the free flow of products as that would have less of an impact to the UK consumer.”
“However, we are also preparing for a hard Brexit and, from a buffering perspective for Mondelēz, we are stocking higher levels of ingredients and finished products, although you can only do so much because of the shelf life of our products.”
“We have a contingency plan in place to manage (a hard Brexit), as the UK is not self-sufficient in terms of food ingredients, so that could be a challenge.”
He also warned shoppers may face higher prices and fewer choices if a trade agreement isn’t reached before the UK leaves the European Union.
The UK is due to leave the EU on March 29th, 2019.