Food prices are likely to go up as a short-term consequence of Britain’s voting to leave the EU, owing to the UK’s dependence on imports, according to the president of the National Farmers Union.

Meurig Raymond said the EU referendum result had been a “political car crash” and that UK farmers who receive up to £3bn in subsidies from the EU each year were headed into “uncharted waters”.

But he warned that one of the most immediate impacts would be from the combination of the UK’s reliance on food imports and the pound hitting a 31-year low on Friday after the leave vote.

“Sadly, we only produce 60% of the food we consume, we’ve seen our self sufficiency fall dramatically, so we are very dependent on imported food,” Raymond told the Guardian. “So a weaker pound will mean higher imported food value.

Get Our E-Newsletter - breaking news to your in-box twice a week
Will be used in accordance with our Privacy Policy

About The Author