british food exporters bullish at regional event
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

British food exporters bullish at regional event

Arab Today, arab today

Arab Today, arab today British food exporters bullish at regional event

Visitors on the Stall of TrueBell during the Opening ceremony of Gulfood 2017
DUBAI - Arab Today

British companies in attendance at Gulfood are expecting a bumper year, with a weak pound driving food exports to the region.

“We’ve seen a big increase in exports,” said Jean-Pierre Garnier, Head of Exports for the Agriculture and Horticulture Development Board (AHDB), adding “the key difference of course being the value of the sterling which is now 20 per cent cheaper.”

The sterling is currently hovering around the $1.24 mark, having slipped from a high of $1.49 just prior to the UK’s decision to leave the European Union (EU) on June 23, 2016.

UK exporters currently have a strong hand over competitors, as a weak currency ensures a cheaper price of goods for foreign markets, compared to those products priced in stronger currencies.

“For meat and dairy producers, in particular, exporting to the Gulf have a big advantage.

Premium lamb, traditionally one of the most expensive meats, from Britain is currently very popular in the region, Garnier added.

Multinational British firm nasco, a wholesale supplier of domestic brands such as John West tuna, Weetabix, and Ribena, says it’s expecting its best show in its five-year participation, with the benefits of a cheaper pound already filtering through.

“Our business in January has already shown a 30-40 per cent pick up on last year,” said Ashish Vidani, Director, nasco.

“The lower value of the pound is encouraging people to look to buy British, and buy more. This could well be our best show yet.”

Nasco’s bullish outlook is echoed by Birmingham’s Food State International, which is representing an expanded product and brands range, including its new London Flavours crisps and snack range. “The new sterling value is definitely helping,” said Lisa Burrows, Project & Marketing Manager. “Our business in this region is growing, it has been really successful for us. The value of the pound is helping, but it’s not the only consideration, it’s a dynamic market which constantly demands new product.”

A poll from February 7 by Reuters suggested that the pound would drop when Britain commenced exit negotiations with the EU at the end of March, 2017.

That fall in value would be steep if talks turned fractious, according to the 60 foreign exchange strategists who were polled.

Lancashire’s Yearly Food Sales, which represents a range of British brands and is using the show for the regional launch of its Crescent Halal Pies and Pasties, says the pound’s reduced value against the dollar is sparking increased interest in UK products. “The interest is there, it’s up to us to take advantage of it and turn it into business,” said David Caine, Export Manager.

But the Brits are not pinning all their hopes on exchange rate fluctuations and say the Middle East market is changing with increasing demand for Halal ranges and more health-related products.

“We are now looking at bringing more health-related products into the market,” said David Caine. “It’s a market you can’t afford to stand still in but which is still performing well for us, particularly with demand from Bahrain, Saudi Arabia and the UAE.”

Ashish Vidani said product range expansion is key to fend off rising international competition for Middle East business. “It’s highly dynamic. We have favourable exchange rate conditions at the moment and we have to leverage these, along with new product introductions, to keep and build on our market share.

source : gulfnews

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

british food exporters bullish at regional event british food exporters bullish at regional event

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

british food exporters bullish at regional event british food exporters bullish at regional event

 



GMT 21:16 2016 Monday ,27 June

Zaki Badr discusses cleaning problem in Giza

GMT 21:46 2017 Saturday ,14 January

Turkey arrests 60 businessmen for alleged Gulen ties

GMT 22:38 2017 Friday ,24 March

Abbas meets with Merkel in Berlin

GMT 09:02 2017 Monday ,27 March

Tunisian Premier Concludes Visit to Sudan

GMT 15:54 2017 Friday ,01 September

Attorney General Directs Prosecutors to inspect Prison

GMT 09:22 2017 Sunday ,31 December

HM King condoles with Afghanistan President

GMT 10:12 2016 Wednesday ,06 April

Strong dollar, mild weather shrink H&M profits

GMT 17:03 2016 Saturday ,24 December

7 police killed in attacks in Afghansitan

GMT 13:51 2017 Friday ,17 March

Israel denies Syria shot down a warplane

GMT 04:08 2017 Thursday ,05 January

Carbon tax can fund clean energy transition

GMT 19:27 2016 Wednesday ,14 September

Alstom to go ahead with plans to shut down Belfort plant

GMT 01:44 2017 Friday ,15 December

Mennat-Allah underlines importance of landscapes

GMT 04:57 2017 Thursday ,14 December

Trump tells NASA to send Americans to Moon

GMT 21:43 2017 Wednesday ,11 October

Qabil discusses with Swiss delegation improving power

GMT 21:06 2017 Sunday ,17 September

OIC condemns suicide attack in Kabul

GMT 08:27 2017 Thursday ,27 April

Nokia reports another loss as networks sag

GMT 19:41 2017 Monday ,06 February

Elina Svitolina Claims Taiwan Open Title

GMT 09:39 2017 Friday ,03 February

Former Brazilian president Lula's wife dies of stroke
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday