Food and drink exports set for challenging 2023


Exports increased 23% to £20.2bn from £16.3bn last October, according to the latest figures from the Office for National Statistics.

The growth was partly driven by inflation, but largely reflected increased demand for UK food and beverages, which has accelerated since April in international markets, particularly in the US and Asia.

Stuart McCallum, head of RSM UK’s food and beverage division, said export growth was welcome news for the industry, although a downward trend could be seen heading into the first quarter of 2023. warned that was high.

continuing uncertainty na

“This is due to continued uncertainty around energy costs as energy-intensive food and beverage manufacturers are hit harder by the energy crisis.”McCallum explained.

“Therefore, the government needs to be clear to reduce food and beverage prices after April 2023 and avoid passing on the costs of inflation to consumers. Manufacturers are doing their best and We are acutely aware of the cost of living crisis, but after two years of working to shrink our margins, we are now incapable of doing anything but raising our prices.”na

The fact that UK food and beverage exports remain in such high demand is due to the fact that inflation last month hit a 42-year high and labor shortages are still affecting production. I was facing Exports were further boosted by expansion in markets outside Europe.

Future tasksna

“However, significant challenges lie ahead as the UK relies on imports of raw materials, with import levels up 30% year-on-year.”McCallum continued. “This shows that we have work to do in terms of becoming more self-sufficient and adopting a more sustainable approach to consumption. This could be mitigated by introducing seasonal policies around migrant work in the EU. na



Source link

Leave a Reply