Retailers stockpile as no-deal Brexit looms

Retailers are stockpiling goods in preparation for a no-deal Brexit over fears of shortages and price rises.

The extra buying happened as prime minister Boris Johnson failed to reach an agreement with the European Union (EU) over Britain’s withdrawal, by the self-imposed deadline from both sides of
13 December.

Retailers told Better Retailing they were stockpiling household cleaning products, popular alcohol ranges and baking products.

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Mike Lakhani, owner of Premier St Mary’s Supermarket in Southampton, said: “We will need extra stock of cakes, biscuits and tinned foods as a lot of them are produced in the EU.”

Harj Dhasee, of the Village Store in Gloucestershire, said “he wasn’t going crazy”, but he was buying extra of his “fastest-selling beers and wines”.

Guidance published by the ACS last month revealed a UK Global Tariff is expected to be applied to products from the EU from 1 January 2021, resulting in higher prices.

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Last week, Tesco chair John Allen revealed the supermarket was stockpiling non-fresh food in response to government advice in anticipation of a no-deal scenario.

Food producers warned supplies of fresh vegetables will be worst hit if tariffs are introduced and shortages could last for up to three months.

At the time of writing, talks between the UK and EU were ongoing.

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