Brexit Partly Blamed For Pushing Up Price of Bacon

Purchasing company Beacon has said suppliers have increased the price of a pack of British smoked bacon in the UK by as much as 38% in August, compared to July.

The rise is attributed to higher demand from China, which is taking advantage of low UK pork prices as a result of the fall in the pound.

Sterling has slumped to 31-year lows in the wake of the EU referendum vote.

Industry data shows a surge in exports from the UK and EU, mainly driven by China, in the first half of 2016.

The demand is high because of floods that have hit China's own pork industry.

Beacon, which buys food for around 2,000 hospitality and leisure businesses, said the price of a pound of bacon has increased by up to 19% since the end of 2015 and they predict the rise will continue.

"The combination of such huge demand for British pork from China and the devaluing of sterling following Brexit is impacting our breakfast table," said senior food buyer Emma Warrington.

"Figures from our butchery suppliers show the price of British bacon rising, in some cases substantially.

"All this means we might be paying a higher price for a bacon sandwich for the foreseeable future."