UK delivery prices jump ahead of Brexit cliff edge as firms rush to stockpile
- Date: 27-Nov-2020
- Source: Arab News
- Sector:Financial Markets
- Country:Middle East
UK delivery prices jump ahead of Brexit cliff edge as firms rush to stockpile
UK delivery prices jump ahead of Brexit cliff edge as firms rush to stockpile
UK delivery prices jump ahead of Brexit cliff edge as firms rush to stockpile
UK delivery prices jump ahead of Brexit cliff edge as firms rush to stockpile
UK businesses are scrambling to avoid potential disruption in January, leaving customs agents overwhelmed (.AFP)
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UK delivery prices jump ahead of Brexit cliff edge as firms rush to stockpile
Updated 27 November 2020
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LONDON: British businesses are rushing to stockpile goods just five weeks before post-Brexit customs checks come into force on Jan. 1, driving up the cost of cross-border deliveries and cutting capacity, industry sources said.
Logistics companies told Reuters they have seen a surge in demand to bring goods into the country before any potential disruption in January, and customs agents report being overwhelmed by pleas for help from traders navigating new rules for the first time.
"We have told our customers that the best thing you can do now is stock up, stockpile, and they're bringing in as much as they can,“ Jon Swallow, director of Jordon Freight, told Reuters.
"The consequence of that is there's simply not enough capacity and the prices are going through the roof.“
Swallow said the increased demand had