Christmas trees pushed down by euro
THE weak euro and low oil prices could mean your Christmas tree will be cheaper this year.
Some of Britain’s largest retailers source their trees from Denmark and Norway, and the strength of the pound against those countries’ currencies has meant your tree could be around 15pc cheaper.
Simon Smith, chief economist at broker FXPro, said: ‘The Danish krone is pegged to the euro. The Norwegian krone is naturally influenced by the oil price, so has been weakening – particularly during the May to August period – as the oil price fell.’
Foreign exchange specialist Foenix Partners predicted the cost of Christmas trees for UK importers has fallen by up to 16pc compared with last year.
But it might be the retailers that benefit rather than shoppers.
Richard de Meo, managing director of Foenix Partners, said it is likely ‘prices will be kept in line with last year and UK sellers will simply absorb the gains’.
For buyers worrying that they may be ripped off, the British Christmas Trees Growers Association said for a six to seven foot tree – which are usually 8-12 years old – consumers will pay between £25-£35 for a Norway Spruce, or between £45 and £65 for a Nordmann fir.