With all of the continued uncertainty over Brexit the price of a cup of tea could be about to change
With businesses and the public still facing uncertainty around what Brexit will mean for them there is one potential immediate upside, a cup of tea could get cheaper.
Marco Geraghty, Director of Insights at National Tea Day says that, ‘It is no secret that tea leaves are mostly sourced from countries outside the E.U. such as India, China and Kenya. With imports to the E.U. currently subject to a tariff amounting to between 5.6%-11.5% Brexit could mean less cost for importers and therefore a reduced cost for tea drinkers.’
He adds a warning however, ‘The supply chain of each tea varies a lot and the processing and packaging is often done in countries within the E.U. so for some blends there is the potential for reduced supply and price increases.’
With traditional tea habits changing and an increased demand for herbal and speciality teas sourced from over the world the implications of Brexit on tea drinkers are even more uncertain. With a lot of herbal blends sourced, processed and packaged in Europe it really depends on which type of tea you drink to see how Brexit could affect you.
With seasonal demand about to peak with National Tea Day taking place on the 21st of April tea loving Brits could be enjoying a cheaper brew, but there could be a storm in a tea cup on the horizon.