Uncertainty is the the main word that is being heard when industry commentators describe what will happen should the UK vote to leave the EU on June 23.
Speaking at a recent IFA talk on Brexit, Philip Carroll, Chairman of the body representing the meat processors, Meat Industry Ireland (MII) said that there has been a negative impact on Sterling since the referendum was announced.
He said that there are a number of issues about Brexit, but the biggest uncertainty is the result of the referendum.
“If it’s a ‘leave’ vote the uncertainty will continue for the next two years.
“There will be a very detailed negotiating process over the next two years (if it is voted that the UK is to leave the EU).”
MII’s problem should the UK leave, is where will the UK go to source other protein products, he said.
There is a back-door opportunity for a Mercosur deal with the UK and that’s a threat.
Meanwhile, ICOS Agri and Food Policy Executive Eamonn Farrell said that there is no upside for the dairy sector if the UK votes to leave.
Currently, he said that the polls are showing that it will be a tight vote and that turn-out will be extremely important.Also Read: Farmers in Northern Ireland look set to vote ‘leave’ in Brexit referendum
“The uncertainty is worrying, should the UK vote to leave. The defining issue for the Irish Government is to ensure concerns of the agri-food sector are met.”
IFA President Joe Healy said that if the UK does leave then that is when the real uncertainty will hit.
“Hopefully it won’t come to that but any market that we lose is a concern.”