The low value of the sterling represents an opportunity for British companies, making British products on British soil.
Though no one is insulated from inflation, relative to our multinational competitors, who are importing their products from Europe, Jude’s Ice Cream is in a better position. Approximately 90% of our ingredients, including milk, cream and sugar are British.
As difficult price negotiations continue between large corporations and the supermarkets, we are excited about the prospect of industry goliaths losing their grip, even for a moment. Pricing aside, since the Brexit vote British companies are more in the spotlight and people will increasingly be buying and trying British.
This is great news for consumers as: First, we know that the best food is made from locally sourced ingredients with low food miles. Secondly, British producers are leading innovation across the food industry. For example, at Jude’s we made Salted Caramel a full four years before our multinational competitors launched their variants in the UK market.
There are undoubtedly tough and uncertain times ahead, but there will continue to be unforeseen opportunities for small, nimble and innovative British food producers.