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Business

Weak pound gives fish and chips a battering

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Business

Weak pound gives fish and chips a battering

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COMING UP:Weak pound gives fish and chips a battering

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00:00:00
>> Customers saying why the prices are going up.>> Downing Street to the dinner table. Not even fish and chips are immune from international currency markets. The price of Britain’s iconic fast food could be about to take a battering of the UK's vote to leave the EU sent the pound to decade lows against the dollar.
00:00:18
This Billingsgate Fish Market in East London. I'm Reuters' reporter, Stuart McDill hearing well importers are worrying about the exchange rate of the fish sellers here and wait for their Brexit dividends.>> Britain's biggest fish retailers like Tesco, and Asda are protected from volatility with long term contracts>> Not so for independent traders like Zaid Dowdy.
00:00:41
He says the price of a box of sea bass has already jumped.>> Let's suppose, they've been paying 30 pound, a fat box, before that, okay. But now they're paying 32 pounds that box. If they buy 100 boxes, so, there's 200 pound more that was it was suppose to than before.
00:00:58
>> With a couple of stores up trader Mark Morris thinks currency concerns were a red herring. He sells ten tons of cod a week to London's fish and chip shops. He says Brexit will be good for business.>> I think we gonna say that the fish and chip shops think, how are we paying all this money then let's choose fresh, let's use the best stuff.
00:01:17
But you're gonna see a high demand coming back for the fresh cod. So ports like Peterhead up in the north of Scotland which is the main white fish port in the UK. They're gonna see more and more demand for their product which can only be good for the fish trade up there.
00:01:30
>>
LAUGH]>>
Britains eat around 380 million portions of fish and chips every year. The vast majority imported from Norway and Iceland. A national love affair that could be sorely tested if the price of the pound doesn't come up for air.