As found on the internet – Brexit food stockpiling taking up most of UK’s cold storage space

NEWS & MEDIA | 01 February 2019

As found on the internet – Brexit food stockpiling taking up most of UK’s cold storage space

Picture Source: independent.ie


“Manufacturers here are reporting that finished goods are taking up most cold storage space as stockpiles hit a six-month high across the UK in preparation for a no-deal Brexit.

The IHS Markit/CIPS UK manufacturing purchasing managers’ index (PMI) showed a reading of 54.2 last month, higher than the 53.6 recorded in November – making it a six-month high.

A figure above 50 indicates growth and economists were expecting a reading of 52.5 in December.

Businesses importing goods from the EU will face severe disruption in the event of a no-deal Brexit. According to the IHS, manufacturers are building up safety stocks to mitigate the potential upheaval.

Stephen Kelly, chief executive of Manufacturing NI, said: “Our firms are reporting similar trends. Food firms in particular have been stockpiling intermediate products (such as sugars) and many are reporting that finished goods are taking up most, if not all, of the available cold storage.”

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