Dutch bank predicts UK flower buying fall

Dutch bank ABN Amro has said in a report that the United Kingdom's departure from the European Union will mean flowers will cost more in the UK.

Amro said plants and flowers will become more expensive in the UK, leading to a decrease purchases, because sterling has fallen since the 23 June Brexit vote.

Dutch plants and flowers are more expensive. The Dutch import 550m euro of flowers to the UK annually.

UK sales are 2bn euro per year. Most of those flowers, around 90%, are imported from abroad according to ABN Amro, with the Netherlands top supplier.

Amro forecast for 2018 is that the exchange rate of the pound will continue to go down.

Jan de Ruyter, sector manager horticulture with ABN Amro, wrote in the report: "The UK clearly isn’t self-sufficient when it comes to agricultural products. For most products, this isn’t going to change any time soon. The British people appreciate our products and our reliable service. That’s very valuable, even after Brexit. It’s important to strengthen our relations with British partners. The risks of higher costs, caused by currency fluctuations and increased import duties, are substantial. But there’s a strong focus on real food prices."


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