The House of Lords have published a report setting out opportunities and challenges for rural policy outside of the EU.
The report notes that, “In withdrawing from the EU the UK will withdraw from the CAP. Though in the first instance many elements of the CAP may be carried over into domestic law by the Great Repeal Bill, Brexit presents the UK with an opportunity to fundamentally review the objectives and design of its long term agricultural policy. At the same time, the UK agri-food industry trades major volumes of agri-food products, predominately with the EU, under the auspices of the Single Market.”
“Once outside the EU the UK must develop its own external tariffs, and may find itself subject to the high external tariffs applied by the EU to agricultural products—to the detriment of UK farmers and food manufacturers—unless a preferential trade agreement is agreed. The UK may also face non-tariff barriers when exporting agriculture and food products to the EU, resulting in delays at ports and additional administrative costs. Both tariff and non-tariff barriers could disrupt integrated supply chains between the UK and the EU, and pose a particular challenge for the agri-food sector in Northern Ireland.”
The full report can be downloaded here: https://www.publications.parliament.uk/pa/ld201617/ldselect/ldeucom/169/169.pdf