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Trouble at Okells

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Brexit is going to be a real killer for specialist wine importers & retailers

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22 minutes ago, Donald Trumps said:

Brexit is going to be a real killer for specialist wine importers & retailers

Why? Won't duty/customs rates remain the same?

100% there'll be price increases to deal with customs/brokerage/forwarding fees etc due to changes in procedures, but in all other respects won't the buying prices remain unchanged?

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Somehow I doubt it Andy

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Ah well, there's always British whine... 

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3 minutes ago, Donald Trumps said:

Somehow I doubt it Andy

They can't compete with the likes of the large chains and folks like Laithwaites with mail order.

ETA: So in essence, it's got eff-all to do with Brexit.

Edited by Andy Onchan

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I wouldn't bet on that

Duties on European wine could change considerably

Analysis of the impact of Brexit on the wine trade for the UK Trade Policy Observatory:

" In the main scenario considered, for consumers in the UK the price of wine in 2025 is 22% higher in local currency terms than it would be without Brexit, the volume of UK wine consumption is 28% lower, and the value of UK imports is 27% lower because of Brexit. "

Edited by Donald Trumps

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15 minutes ago, Donald Trumps said:

I wouldn't bet on that

Duties on European could change considerably

Analysis of the impact of Brexit on the wine trade for the UK Trade Policy Observatory:

" In the main scenario considered, for consumers in the UK the price of wine in 2025 is 22% higher in local currency terms than it would be without Brexit, the volume of UK wine consumption is 28% lower, and the value of UK imports is 27% lower because of Brexit. "

New World wines will soon replace EU products. Actually, the Australians do a very nice line in the tempranillo. Had some a couple of weeks ago.    

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Chilean stuff is very good too

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1 hour ago, Andy Onchan said:

Why? Won't duty/customs rates remain the same?

100% there'll be price increases to deal with customs/brokerage/forwarding fees etc due to changes in procedures, but in all other respects won't the buying prices remain unchanged?

There is zero tariffs on wine produced in EU when imported to U.K. the tariffs on Aus, NZ and other significant wine producers are low because the EU has bilateral agreements with many non EU wine producing countres.

However, crash out without a deal and relying on WTO will mean a 32% tariff on wine from EU and elsewhere, plus duty, plus VAT on the tariff and the duty.

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7 minutes ago, John Wright said:

There is zero tariffs on wine produced in EU when imported to U.K. the tariffs on Aus, NZ and other significant wine producers are low because the EU has bilateral agreements with many non EU wine producing countres.

However, crash out without a deal and relying on WTO will mean a 32% tariff on wine from EU and elsewhere, plus duty, plus VAT on the tariff and the duty.

I can see retailers rubbing their hands together and increasing prices no matter what the outcome of Brexit!

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You're right Max

Basic living costs will be up by a good 30% by the end of the year

& then we have IOMG to contend with!

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1 hour ago, Max Power said:

I can see retailers rubbing their hands together and increasing prices no matter what the outcome of Brexit!

There is certainly that risk. And of course the current wine taxation is regressive, ie it is the same on all wines, of the same strength, per bottle or litre. Tariffs are progressive, so bigger for more expensive wines.

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23 minutes ago, Max Power said:

I can see retailers rubbing their hands together and increasing prices no matter what the outcome of Brexit!

As posted previously; it happened when the credit crunch hit. Govt reduced VAT, every man and his dog reciprocated by raising their prices, from importers to wholesalers to retail, across the board.

Some will use any excuse to try and increase their margins. We just give tbem the excuses they need.

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