Dec 9, 2020

Brexit: Tesco stockpiles food in case of 'worst-case scenario' no-deal

Britain's biggest supermarket Tesco says it is stockpiling food ahead of a potential no-deal Brexit. He told the Bloomberg news agency Tesco was stockpiling non-fresh food as it prepares for "The worst-case scenario". "If we leave on a no-deal basis there will be tariffs, and those tariffs can be quite substantial on some food items." He predicted food inflation would climb between 3% and 5% after a no-deal Brexit and said that that the tariffs on French cheeses could be as high as 40%. He also warned there could be shortages of fresh food, "Particularly short-life fresh foods". AFP. Tesco has also been diverting shipments to ports other than Dover "To minimise food being caught in what's going to be the most difficult place," he said.

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