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Over half of the people asked said that their domestic sales had grown in Q3 of this year thanks to events such as the Olympics, but the expected rise of commodity prices in Q4 has lowered confidence about profits.
Steve Barnes, economic and commercial services director for the FDF, said, “The results of our latest survey show that food and drink business leaders are bracing themselves for what could potentially be one of the toughest Christmas trading periods in recent years.
“Christmas is traditionally our busiest production period and when we would expect to see higher levels of demand in both our domestic and overseas markets. However, continued rises in ingredient prices and an uncertain economic outlook are impacting confidence and this volatility is making it harder for businesses to plan ahead. However our sector has always proved resilient and we are confident that it will continue to be so and make a significant contribution to the UK’s economic recovery,” he added.
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