A weak pound sterling, along with its exchange traded fund (ETF), has disappointed currency traders, but domestic exporters are delighted.

Food and drink companies are aiming at overseas markets in an attempt to exploit the weak pound sterling, reports Karen Peattie for The Sunday Herald.

A strong euro is just the opportunity for the food and drink industry in the United Kingdom to develop its businesses internationally. The industry is worth around $10.7 billion in Scotland, and exports account for around half that.

People in the industry want to develop their international clientele, but there is a need to understand new trends and to know what the emerging markets are.

Recent growth in companies like the Portsoy-based seafood supplier Gourmet’s Choice has been driven by exports. It has stated that exports to European nations were more fruitful due to a weaker pound.

• CurrencyShares British Pound Sterling Trust (FXB): down 4.3% in the last month

Read the disclaimer, as Tom Lydon is a board member of Rydex Funds.

Tags: British Pound, Currency ETFs, Europe, FXB, United Kingdom