Beef and cheese exports from Ireland to the UK could collapse by up to 90% in the event of a no-deal Brexit, according to a new study.
The unnamed study, which was seen and reported by RTE News, also claimed that it could result in the loss of over 3,500 jobs.
The report, authored by an unnamed food company and carried out by FTI Consulting, said that cheese exports to the UK could fall by 89%, with beef falling by 88%.
Financial Loss
This would result in the beef and cheese sectors losing up to €732 million and €325 million in revenues respectively.
The report claimed that meat and cheese are hit the hardest by WTO tariffs, with Irish cheeses being sold to the UK potentially facing a 56% price increase.
The issue of Brexit’s impact on Ireland’s agriculture was raised in Brussels this week as the Taoiseach Leo Varakar and Agriculture Minister Michal Creed met with Phil Hogan.
Brussels said that it would respond with a range of measures in the event of a no-deal, some of which including direct intervention and financial support to offset farmer losses.
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O'Sullivan. Click subscribe to sign up for the Checkout print edition.
