Smithfield, Billingsgate markets to face permanent closure by 2028
UK – The City of London Corporation’s Common Council has confirmed that both Smithfield Meat Market and Billingsgate Fish Market will close permanently by 2028.
The decision includes withdrawing plans to relocate the wholesale markets to a proposed $1.2 billion site at Dagenham Dock, which had previously been under consideration.
The City Corporation announced that a new agreement with traders from the two markets will include financial aid to assist in their transition to alternative locations.
Efforts are underway to help traders secure suitable premises to maintain their role in London’s food distribution network, with discussions already taking place between the Corporation, traders, and other wholesale markets.
Chris Hayward, Policy Chairman of the City of London Corporation, stated that the decision aims to provide traders with the opportunity to operate independently in settings aligned with their long-term business strategies.
“We appreciate the cooperation and input of the traders and are committed to supporting their move with financial assistance and guidance to ensure a smooth transition,” he said.
Traders will be allowed to continue operating at Smithfield and Billingsgate until at least 2028.
This extended timeline is intended to facilitate a gradual shift, offering ample time for planning and coordination.
Plans for relocating the markets to Dagenham Dock were paused earlier, with the Corporation citing escalating costs as a key concern.
According to reports, around $390 million had already been spent on acquiring and preparing the site.
Meanwhile, New Spitalfields Market, equipped with modern infrastructure, remains unaffected and will continue as a major wholesale hub for fruit and vegetables in London.
Industry representatives have expressed mixed reactions to the decision. Tony Goodger of AIMS described the impending closure of Smithfield Market as “the end of an era.”
He added that while the relocation plan has been abandoned, traders are likely to disperse to various parts of outer London, impacting the social and operational cohesion of the meat trade.
Despite the impending changes, Goodger expressed confidence in the resilience of the meat industry in the UK.
In 2023, the United Kingdom produced a total of 4.1 million tonnes of meat, marking a 3.7% decline compared to the previous year.
This represented the first decrease in over a decade, although production levels remained 13% higher than ten years prior.
Despite the drop in output, the value of UK meat production rose by 5.8% to approximately US$13.9 billion, driven primarily by increased prices for cattle, pigs, and poultry.
Sign up HERE to receive our email newsletters with the latest news and insights from Africa and around the world, and follow us on our WhatsApp channel for updates.
