Exports to the Tesco group represented 9 per cent of the total value of Irish food and drink exported during 2010, according to a new report by Indecon International Economic Consultants.
Irish suppliers exported €705.8 million of Irish-produced goods to the Tesco stores internationally in that year. This exceeds the total value of Irish food and drink exports to France, Germany or the US.
Total beef exports to the retailer reached €177 million in 2010, accounting for almost 14 per cent of the total value of beef exports from Ireland.
Dairy products are another key category, with exports to Tesco stores in Europe and Asia worth €178 million, according to the report, while drinks exports were worth almost €117 million.
The report, written by Indecon’s William Batt, says Tesco is worth €2.7 billion a year to the Irish economy, taking into account multiplier effects.
Tesco Ireland chief executive Tony Keohane said Tesco’s presence in Ireland was “a win- win situation for Ireland and for Tesco”. The company does not disclose the profits it earns from its Irish stores, in which it employs almost 15,000 people.
The Indecon report also estimates that Tesco spent €1.95 billion on Irish-produced goods and services in 2010.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)