Mars says chocolate prices will rise if UK doesn't get good deal on Brexit

The price of chocolate could increase in the UK after Brexit
Rex Features

The price of chocolate will increase if the UK fails to secure a good post-Brexit trade deal, Mars' top boss has warned.

Fiona Dawson, global president of the US firm, said if a trade deal isn’t reached with EU member states 30 per cent tariffs would be imposed on confectionery imports.

In a speech in Brussels to the American Chamber of Commerce to the EU, she said those costs can't be absorbed by firms, so consumers will have to pay more.

This would hit products such as Galaxy, Snickers, Bounty and Twix, as well as other products such as Wrigley's chewing gum, Uncle Ben's rice and Whiskas cat food.

She said: "The absence of hard borders with all their attendant tariff, customs and non-tariff barriers allows for this integrated supply chain, which helps to keep costs down..

"The return of those barriers would create higher costs which would threaten that supply chain and the jobs that come with it."

The company relies on open borders as it has factories across Europe, she said.

Ms Dawson added that although food and drink is the largest manufacturing sector in the UK, companies in the automotive and financial sector have been the focus following the Brexit vote.

She said: "There can be no economic advantage either side restricting trade with a large market situated on its doorstep.

"In simple terms, if the UK and the EU fail to agree on a new preferential deal, it will be to the detriment of all.

"Other member states should remember this is not about 'punishing' Britain for her decision to withdraw, but rather about finding the best solution for European and UK workers and consumers.”

Create a FREE account to continue reading

eros

Registration is a free and easy way to support our journalism.

Join our community where you can: comment on stories; sign up to newsletters; enter competitions and access content on our app.

Your email address

Must be at least 6 characters, include an upper and lower case character and a number

You must be at least 18 years old to create an account

* Required fields

Already have an account? SIGN IN

By clicking Create Account you confirm that your data has been entered correctly and you have read and agree to our Terms of use , Cookie policy and Privacy policy .

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in