The price of pint could be set to soar, as the plunging pound sees the cost of imported hops skyrocket.
Paul Davies, CEO at Carlsberg Marston's Brewing Company, today linked the falling value of the pound to the increased price of hops – a vital ingredient in the beer brewing process which are primarily sourced from the United States.
Following a wave of tax cuts announced on Friday by Chancellor Kwarsi Kwarteg, the pound plummeted to its lowest level against the dollar since decimalisation began in 1971. Speaking on BBC Radio 4's Today programme, the beer boss said the prospect was a 'worrying' one for the British beer industry. which imports its beer and hops from overseas.
“And then of course people drink a lot of imported beers from Europe, and the euro vs the pound is also something we're watching very closely at the moment.”
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