By Richard Torné
Spanish farmers will have to slash the price of their exports to the UK if they wish to remain competitive in the wake of Brexit, an Almería-based economist has said.
David Uclés, from the savings bank Cajamar’s food and agriculture think tank, said Almería’s farm exports to the UK will be adversely hit by Brexit due to the pound’s sharp fall – down by about 10 per cent since June’s referendum.
Sr Uclés analysed the possible effect of Brexit on the agricultural sector in Cajamar’s blog.
He said sterling’s slide had made imports more expensive. “If Spain wants to continue selling in the same quantities it will have to do so by dropping the unitary price,” he cautioned.
Tomatoes would most likely be the worst affected crop, followed by fruit and wine exports, he said.
