Report identifies key target markets for Irish food and drink producers
Agrifood export growth to come from key markets outside EU, Bord Bia report says
Minister for Agriculture Michael Creed and Bord Bia chief executive Tara McCarthy at the launch of the report.
A report from Bord Bia, Prioritising Markets: Opportunities for Growth, details the increasing importance of other markets for food and drink exporters, noting that China is the second biggest market for Irish dairy while the United States absorbs almost 45 per cent of Irish whiskey exports.
It lists priority markets for meat producers which include China, Japan, Indonesia, Mexico, the United Arab Emirates (UAE), South Korea, Iran, Australia, Chile, Malaysia, New Zealand, Singapore, Taiwan, Vietnam, Hong Kong and Thailand.
Additionally, the report explains where opportunities lie for Irish producers. For example, frozen boneless beef is a dominant import requirement in Vietnam and a sector in which Irish producers could be competitive. For dairy producers in Malaysia the report finds that cheddar, mozzarella or whole milk powder provide significant opportunity for Irish exporters considering the country applies zero tariffs on those products.
“Over the last six years, the value of Irish dairy exports has increased by 11 per cent, the value of our beef exports by almost 50 per cent, cereals and cereal preparations by 59 per cent, seafood and seafood exports by 50 per cent, forestry exports doubled from €112million to €226 million and sheep meat exports increased by 70 per cent,” said Michael Creed, Minister for Agriculture, Food and the Marine.
“Notwithstanding this significant success, we must, in the light of Brexit, intensify our efforts further to diversify those international markets that offer the best potential for growth,” he added.
According to Bord Bia’s research, if the growth trends evident between 2009 and 2016 continue, international markets will account for more than 40 per cent of Irish food and drink exports by 2025. Population growth, increased urbanisation and affluence and climate change challenges are the context for this opportunity, Bord Bia said.
Bord Bia chief executive Tara McCarthy said: “Although the UK will continue to be the most important market for Irish food and drink manufacturers, changing global circumstances move the diversification opportunity centre stage.”