What to Expect from Brexit

Analysts for agriculture and international trade were among experts scrambling post-Brexit vote to make sense of what it might mean for Britain to no longer be part of the European Union. Much like the legion of economists, politicians and historians who sought to put the vote in context, experts in the farm equipment industry could offer only speculation.

If, for example, the euro and sterling continue to diminish in value relative to the dollar, it will be more difficult to export to the UK.

If the UK changes European restrictions on importing beef, poultry, and pork, however, it could present new opportunities for exporting.

For farmers in Britian, the possibility of fewer restrictions shows promise.

Farming Minister George Eustice said before the Brexit vote that a decision to leave would allow the UK to develop a more flexible approach to environmental protection free of “spirit-crushing” Brussels directives.

“I genuinely believe that the European Union and the idea of this pan-European legal system to try and govern everything to do with our agriculture is fundamentally flawed,” he said.

Sources: FG Insight and The Guardian