Brexit: stockpiling chocolate
A major confectionery maker says Brexit could come between Britons and their beloved chocolate.
From the Equity Insider archive. This article dates from Sep 12, 2018 and is preserved as first published.
A major confectionery maker says Brexit could come between Britons and their beloved chocolate.
Hubert Weber, European chief of Mondelez International, says the company is stockpiling ingredients, chocolate and cookies as part of contingency plans for a disruptive “hard Brexit.”
Britain is due to leave the European Union on March 29. The two sides have yet to agree on future economic relations, leaving companies uncertain about whether currently frictionless trade can continue.
The two sides have yet to agree on future economic relations, leaving companies uncertain about whether currently frictionless trade can continue.
Weber was quoted Tuesday by The Times of London as saying that “from a buffering perspective for Mondelez, we are stocking higher levels of ingredients and finished products.”
He said Britain “is not self-sufficient in terms of food ingredients” and warned shoppers could face higher prices and fewer choices if there is no deal.
Mondelez owns U.K. chocolate-maker Cadbury.
