‘Aye’ standby….

Scotch producers were understandably nervous as to how an independent Scotland would proceed in a strange new world.

While there were undoubtedly many potential benefits for Scotch producers in an independent country for a manufacturing base and exporting operation, Rabobank – not a supporter of Scottish independence – had pointed out some of the disadvantages in its recent Q3 report on the global spirits market which it described as “numerous and tangible”.

It argued that, “With an independence vote Scotland would lose its status as an EU member, at least temporarily, which would result in loss of automatic free trade with its key markets in the UK, rising input costs and loss of the diplomatic framework that Scotch has come to depend on to champion its interests in international markets.

“Furthermore,” it continued even more cautiously, “independence creates an opportunity for adverse consequences in terms of interest rates – a key concern for distillers’ ability to finance aging inventory – and for exchange rates, which could affect trade.