Food Bowl: Food Exporters

food bowl: Ireland is the food bowl of the UK, supplying a quarter of all Britain beef, much of its vegetables, milk and processed food, according to Australian Broadcasting Corporation. But now trade-exposed Irish farmers and food exporters are seeking help from their government, as Britain begins to leave the European Union. Map: Sydney 2000 If Australia thinks there will be opportunities in Britain after the Brexit, spare a thought for the Republic of Ireland. Britain takes 40 per cent of all the food and drinks produced in Ireland, more than Euro 4.5 billion worth or $6.5 billion. A Brisbane-based lawyer who worked for more than 20 years in Ireland on Corporate and EU law said Ireland has been caught napping. "Ireland didn't have a contingency plan for the referendum," McCullough Robertson partner John Kettle said. "What happened is there was no plan B. "For that part of the economy not based on financial services and tax structuring deals around Dublin, the UK is an incredibly important market for Irish produce. "So if there a hard Brexit, and tariffs are put up, that one impediment for Irish produce going to Britain. "And the Sterling has collapsed by 20–25 per cent against the Euro since June, so that makes Irish agri-produce much more expensive. "So it difficult to make long-term supply arrangements with UK retailers who are going to squeeze them on price." Irish farmers are also threatened by cheaper produce coming out of the United Kingdom. "They're caught in a perfect storm!" Mr Kettle said. But four months after Britain Leave Europe vote, the pound has plunged to the lowest level in 30 years, reducing the amount Britons can pay. (news.financializer.com). As reported in the news.