Post-Brexit tariffs on flour mean the price of bread in Ireland could rise by almost a 10th, a trade group warns.
Food Drink Ireland said because of rules of origin in the U.K.-European Union trade agreement, products containing more than 15% grain from the U.K. now face tariffs that raise the cost of the main bread ingredient by 50%.
Some 80% of the flour used in Irish bread is imported, mainly from across the Irish Sea after many millers closed down in recent years, leaving no industrial options on the island.
“This results in a distorted marketplace,” FDI director Paul Kelly said. U.K. or other euro-area bakers “using the same specification flour, but not facing the same tariff will be at a significant competitive advantage selling their finished product.”
The group is calling for a derogation on this regulation for the Irish bakery sector.
Today, the Alliance for Chemical Distribution (ACD) welcomed 666 members and industry leaders for its highly anticipated 2024 Annual Meeting held in La Quinta, California.
View ArticleThe National Retail Federation still expects steady sales growth for the winter holiday season despite contradictions in the latest economic indicators, NRF Chief Economist Jack Kleinhenz said today.
View ArticleDonald Trump’s victory in the US Presidential Election is ‘a step in the wrong direction’ for international trade as importers fear another spike in ocean container shipping freight rates.
View ArticleIndustry updates and weekly newsletter direct to your inbox!