According to a report from The Times, global confectionery giant Mondelez International is stockpiling ingredients and products in preparation for a no-deal Brexit.
The no-deal Brexit refers to a situation in which no withdrawal agreement is made between the UK and the European Union. With no withdrawal agreement, there is no way to establish future plans and trade agreements between the UK and EU.
“Like the whole of the food and drink industry in the UK, we would prefer a good deal that allows the free flow of products as that would have less of an impact to the UK consumer. However, we are also preparing for a hard Brexit and, from a buffering perspective for Mondelēz, we are stocking higher levels of ingredients and finished products. We have a contingency plan in place to manage a hard Brexit, as the UK is not self-sufficient in terms of food ingredients, so that could be a challenge,” said Hubert Weber, president Mondelez European.
The news of stockpiling comes after an announcement from the UK’s Food and Drink Federation which stated that a no-deal Brexit would present a grisly prospect for the UK’s food and drink industry. The Federation went on to claim that it was the UK governments responsibility to protect UK consumers.
Mondelez International owns a number of major food brands one of which is Cadbury – one of the UK’s largest brands.