Suppliers Uncertain As Sterling Drop Continues
Caterers should stay cautiously optimistic as they wait to see the real impact of the move towards Brexit on food and drink prices. With the Government having confirmed that Article 50 will be triggered in the first quarter of 2017, we can start to see the timetable for Brexit, but it’s still not clear what it will mean in terms of our trading relationship with Europe and the rest of the world.
Although some prices have risen as a result of the drop in the value of sterling since the referendum vote in June, other factors have provided some balance.
The supply chain dislikes uncertainty more than just about anything else, and in that context, it’s understandable that suppliers are building plenty of caution and caveats into their forecasts. With a wide range of products seeing changes in price, caterers will need to keep a close eye on their supplier costs over the coming months.