And what of trade with the rest of the world? The EU has negotiated preferential trade agreements with 48 countries and is in ongoing negotiations with a further 84 countries. It is considering opening negotiations with another seven, including China.
The Government and food sector has put a lot emphasis on increasing global exports recently.
Is Brexit an opportunity to forge new markets and enjoy greater influence on the global stage, as former Defra Secretary Paterson has frequently claimed?
Or will the UK suffer from losing the collective clout of the EU on that stage, a point forcefully made by EU Agriculture Commissioner Phil Hogan in Oxford in January.
Reacting to the Brexit vote, CLA president Ross Murray said: "As negotiations begin on trade relationships to succeed our position as a full member of the European Union, Ministers must have the needs of farming and other rural businesses at the front of their minds.
"The ambition must be a barrier and tariff-free relationship. Whatever happens, the UK Government must not allow a poor trade dynamic that leaves UK agriculture at a disadvantage."
NFU Cymru president Stephen James said negotiating and concluding trade agreements with the EU and the rest of the world, for our exports, 'now becomes vital'.
"We will be looking to the UK Government to prioritise the negotiation of favourable trade agreements.
"Whilst doing so I would stress that it is essential that decision makers do not undermine domestic agriculture by opening the UK market to goods which do not meet our own high standards of production.”
A UK Agricultural Policy (or four)
UK farmers currently receive £3bn a year under the CAP. While Leave campaigners have guaranteed current levels of funding will be maintained until the current regime in 2020, new UK national policies will need to be formulated to come into effect from 2021.
UK farming, rural and environmental organisations will all be looking to have a big say in the formulation of new agricultural policies.
Mr Raymond said: "We have heard politicians who wanted to leave the EU categorically state they were going to support farming. We are going to have to discuss with our members what framework they want to put together for a new UK farm support system."
The Tenant Farmers Association has already set out a potential draft policy, which chief executive George Dunn said would be used as as a basis for its discussions with the English and Welsh Governments 'to gain early traction to ensure that the farming community is not forgotten as we build new, domestic policies from the bottom up'.
CLA president Ross Murray said: “Discussions must begin as soon as practical on what will replace the support provided through the CAP.
"A dedicated UK Agriculture and Land Use Policy must be in place ready for the day we exit the European Union.
"This has to be a widely accepted policy that supports our farmers, helping them to be resilient to unpredictable markets, and providing them with a firm foundation to compete with EU and other farmers from across the world.
"It must also be a policy to support the work of managing our land and wildlife, preserving our landscapes and supporting rural communities.”
Will farm support be cut?
In an interview with Farmers Guardian, former Prime Minister David Cameron said: "If Britain votes to leave we would have to put in place an agricultural support system. I am very pro-countryside and pro-farming and, as Prime Minister, I would make sure that happens."
But he said there would be no such certainties under a Labour Government.
Arguably more significantly, given the events of Friday morning, Boris Johnson, surely the frontrunner to succeed David Cameron as Prime Minister, and Mr Eustice have also pledged to maintain farm support.