British Stores Stockpile Food on Brexit No-Deal Concerns — But Shoppers Urged Not to Panic Buy

  • U.K. supermarkets are widely reported to be stockpiling food.
  • This comes amid the possibility of possible no-deal scenario as Brexit trade deal negotiations continue.
  • Shoppers have been told not to stockpile, however.

British grocery stores are stockpiling food amid the possibility of a no-deal scenario as Brexit trade deal negotiations between the EU and U.K. go down to the wire.

The supermarkets have reportedly been told by government ministers to hoard non-perishable goods, according to the Sunday Times newspapers, with lawmakers saying a "no-deal Brexit is on the cards." A spokesperson for the U.K. government was not immediately available for comment when contacted by CNBC.

There have already been widespread warnings from business leaders about possible fresh food shortages, possible delays to deliveries from the continent and price rises in the event of a no-deal scenario — where the U.K. and EU fail to agree a post-Brexit trade deal.

Both sides have until December 31 to agree a deal, and although talks are continuing at this late stage, they have warned that a no-deal is the likelier outcome.

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Source: https://www.nbcnewyork.com/news/business/money-report/british-stores-stockpile-food-on-brexit-no-deal-concerns-but-shoppers-urged-not-to-panic-buy/2778446/

 

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