** Investec looks at what Brexit might mean for mid-capfast-moving consumer goods (FMCG)
** The analysts say issues could include forex volatility,workforce availability, trade and the Common Agricultural Policy(CAP) (agricultural policy of the EU)
** Say the FMCG sector has a reasonable degree ofinteraction with Europe, mainly because the UK is notself-sufficient on food. Add that negotiating new traderelationships will be vital otherwise those that do export willbe subject to EU tariffs
** Say CAP has been deeply unpopular with non-farmers, giventhat it absorbs around 40 pct of the EU budget, but also withsome farmers who hate its complex bureaucracy
** Say exchange rate volatility is likely in the run up tothe referendum, given the degree of uncertainty over which waythe vote may go
** Britain will hold a referendum on its EU membership onJune 23 and the possibility of "Brexit" has kept the sterlingnear a seven-year low against the dollar
** The analysts flag uncertainty as the largest issue as even if Britain votes to leave, there could be a 2 yr exit"process" to follow (Reuters Messaging:noor.hussain.thomsonreuters.com@reuters.net)
