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FEV: Uncertainty In Spanish Wine Sector After Brexit

Published on Jun 27 2016 9:39 AM in Drinks tagged: Trending Posts / UK / Wine / Spain / Brexit

FEV: Uncertainty In Spanish Wine Sector After Brexit

The Federación Española del Vino (FEV) has said that it considers the decision of the UK to leave the EU to be "bad news" for the Spanish wine sector.

As reported on GranConsumo.tv, a spokesperson from the organisation, which gathers people from the different areas of the Spanish wine industry, feels that the Brexit "will have repercussions in the medium and long term for the Spanish market", which has historically seen the UK as one of its biggest customers.

In 2015, Spanish wine exports to the UK reached €356.1 million, placing the country as the second destination for Spanish wines, surpassed only by Germany.

The first negative effects, due to the fall of sterling, will likely "have direct consequences on our sector, such as the increase on the price of our wines in that market", expressed the organisation.

A drop in the number of British tourists who choose to visit Spain is also an expected consequence that will negatively affect the wine industry, as wine-related tourism is a very popular activity in the country.

© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Gabriela Guédez. To subscribe to ESM: The European Supermarket Magazine, click here.

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