The potential lack of a Brexit deal risks impacting Italian food exports to the UK by €3.4 billion as a result of customs duties and delays, according to Italian farmers association Coldiretti.
With almost one in every two bottles of exported Italian Prosecco consumed by British consumers, the wine is one of the categories that could be hit the hardest by a no-deal Brexit.
Prosecco sales in the UK stood at €350 million last year, a 6% increase compared to 2017, while Italian wine sales overall amounted to around €800 million.
Other categories likely to be affected include fruit and vegetables, pasta, cheese and olive oil, while peeled tomatoes and tomato pulp, which account for 20% of total Italian food exports to the UK, are also expected to see a significant impact.
In the case of no Brexit deal, Coldiretti said that there is also a risk regarding the protection of products with a DOP/IGP designation. Italian exports of food with geographical indications and quality products account for about 30% of the total of Italian food exports.
Coldiretti president Ettore Prandini said that if UK were to leave the EU without a deal, there would be "unfavourable legislation in the UK for Italian food exports".
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.
