Uncertainty presents more than just challenges for Scotland’s food & drinks sector

Uncertainty presents more than just challenges for Scotland’s food & drinks sector

Royal Bank of Scotland’s Malcolm Buchanan blogs about opportunities for Scotland’s food & drink sector, following the release of the bank’s Food & Drink PMI® report.

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Malcolm Buchanan
Chair, Scotland Board, Royal Bank of Scotland
Blog

11 October 2019

whiskey barrels near the sea

Scotland’s food and drink sector has been a huge success story over the last 20 years and its contribution to the Scottish and UK economies is very significant.

It is in fact Scotland’s largest sector. Whilst Scotch Whisky is a major component of the industry it is a sector that offers a rich diversity of world class products firmly rooted in great quality and provenance of home-grown raw materials.

As we look into the immediate uncertainties that we face as a consequence of Brexit, the Royal Bank of Scotland remains committed to supporting our customers through whatever changes and adjustments need to be made over the longer term. We have been working with the food and drink industry almost since the bank was established in 1727 and we will support the sector’s growth long into the future.

Uncertainty is not only about challenges. There will likely be great opportunities ahead too. Food and Drink Scotland has a vision to double the contribution of the sector by 2030 and that should be within our grasp given the quality of what Scotland has to offer is excellent. The heritage of many of our great food and drink brands, the new brands being built, the quality of our products and the skill of our world leading farmers, fishermen and manufacturers means that Scotland’s food and drink will be attractive in many new markets.

Royal Bank of Scotland wants to collaborate with food and drink producers, farmers and fishermen to help take advantage of these opportunities and deliver a thriving sector for many years to come. Continuing the traditions of our almost 300 year relationship with the sector to unlock the potential of the future.

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Find out more and access the full Royal Bank of Scotland Food & Drink PMI® report which shows that Scotland’s food & drink sector underpins Scotland's position as the dominant force behind UK international trade in agrifood products.

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Bright prospects for Scotland’s strongest sector

Royal Bank of Scotland Food & Drink PMI® shows that Scotland’s Food & Drink sector accounts for nearly one-in-four manufacturing jobs and underpins Scotland's position as the dominant force behind UK international trade in agrifood products.

Royal Bank of Scotland Report on Jobs – August 2019

Permanent placements decline at sharpest rate since January 2017.

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