Loosing pounds, not so healthy after all for British consumers…

by David Ivanovic

The staggering numbers extracted from Eurostat show an important decrease in EU imports of horticultural products. Let’s cut straight to the point: the recession that is engulfing the majority of European countries is one, if not the major underlying reason. Another cause behind the reduction of imported fresh products, especially in Great Britain, is the devaluation of the British pound, which has lost a 25% of its value in 2008 against the euro. At the beginning of last year, 100 pounds could get you almost 140 euros; on New Year’s Eve, the same amount was only worth €100.

This week, the pound regained its November value, climbing up by 15% since its all time low value of January. Let’s see if the growth momentum will keep going and bring back the levels of imports to what they used to be. Because when someone stops buying, someone at the other end of the supply chain is having a hard time too. Eating more mangoes and papayas will be good for everyone.