Due to fears over Brexit, exports of 'Made in Italy' agrifood products to Great Britain increased by 17.3% in January, reaching a high of €243 million in just one month.
This emerges from an analysis by Italian farmers' association Coldiretti based on the latest Istat data on foreign trade.
According to Coldiretti, the increase in 'Made in Italy' exports is due to concerns over high agrifood tariffs that could affect trade between Italy and Great Britain after Brexit, leading British businesses to stock up on Italian products before 29 March.
The Coldiretti research revealed that Brexit could mean that only 82% of European products can be freely imported into Great Britain, affecting exports of 'Made in Italy' products.
DOP, IGP Certification
In the case of a no-deal Brexit, Coldiretti reported that there is also a risk regarding the protection of products bearing DOP and IGP certification, which account for about 30% of total Italian food exports.
Italian wine, which is the most exported product to the UK, with an overall value of €827 million, is one of the categories that could be most affected, followed by fruit and vegetables (€234 million).
According to Ettore Prandini, president of Coldiretti, in a no-deal scenario, there would be unfavourable legislation in the UK for Italian food exports, slowing down the flow thereof.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Alessandra Arosio. Click subscribe to sign up to ESM: European Supermarket Magazine.
