Home news Brexit to blame for fish costs, says trader

Brexit to blame for fish costs, says trader


UNCERTAINTY around Brexit is causing a price hike in fish and chips.

That is the view of a Brighton chip shop boss, who says he will be forced to bump up his prices due to the current economical climate.

Steven Lim, manager of the Daily Catch in St James’s Street, has seen a rise in produce prices since Britain voted to leave the European Union.

One national newspaper reported that the meal, one of the country’s most loved delicacies, could go up by a whopping 11.5 per cent due to a cut in fishing quotas.

Experts claim the price of cod is up seven per cent, with haddock costs increasing by 11.5 per cent.

But Mr Lim predicted the increase would not be so drastic.

He said: “To be honest, we will probably have a slight increase in our prices because of the uncertainty of Brexit.

“But not by 11 per cent, no way. Maybe around five or six per cent, but definitely not 11.”

Mr Lim said it is costing more to buy produce from overseas.

“The price of raw material is going up,” he said.

“Fish has gone up and oil has also gone up.

“The potato is slightly more stable.

“Cod and haddock are both increasing at the same rate but it depends what sort of size you use.”

Running a business while the market is so tense is one thing, but trying to fend off competition is another.

And it is proving difficult for Mr Lim at the moment.

When asked how he keeps his prices competitive while maintaining a profit, he said: “It is really hard to keep competitive prices.

“It is harder now than ever before.

“That is mainly down to Brexit, with suppliers putting their prices up.

“Our profit margin is getting squeezed.”

The national newspaper reported how the trend in price rises will continue throughout the year.

It said it is because most of the cod and haddock sold in British chippies is imported from Norway and Russia – countries where the quotas for their fishing fleets have been slashed by up to 14 per cent.

Andrew Crook, president of the National Federation of Fish Friers, the industry’s trade union, said: “It is certainly of concern to our members. Much of our fish is imported.

“We do have some fantastic fish caught by our British fleet, but they cannot supply all the fish for our needs.”

Source: The Argus