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Nova Scotia syrup processor confident of rebound after losing $100,000 to Brexit

Acadian Maple, produces in Halifax, Nova Scotia syrup is seen on a shelf. acadianmaple.com

A Halifax-based maple syrup processor is downplaying the loss of $100,000 in sales to a U.K. distributor in the wake of that country’s vote to leave the European Union.

Brian Allaway, president of Acadian Maple products, says while disappointing, he understands why a $200,000 order was cut in half two days after the Brexit vote last month.

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Allaway says the distributor is being cautious because of uncertainty around the plummeting British pound – and he’d feel the same if the roles were reversed.

Despite that, he said he was recently told the distributor is preparing to make another order soon because demand hasn’t fallen.

Allaway says about 60 per cent of his company’s exports go to the E.U. although most of his sales, about 85 per cent, are made in the Maritimes.

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Allaway says the strong business at home acts as insulation for a company that has worked hard to diversify its sales.