Seafood industry reaches record levels of investment and sales

Investment in the seafood industry and seafood sales reached record levels last year, according to Bord Iascaigh Mhara's (BIM's) annual review.

The review notes a 10 per cent increase in the value of seafood on the Irish market at final point of sale, at €307 million. Sales of seafood in the food service sector also outstripped the retail sector, accounting for 54 per cent of the home market.

Per capita consumption was estimated at 17 kg live weight in 2002, according to the BIM analysis, which was presented this week to the Minister for Communications, Marine and Natural Resources, Mr Ahern.

Irish seafood exports increased marginally to €436.5 million in 2002 compared to €433.4 million in the previous year.

Sales to EU countries accounted for 76 per cent of the total. France continued to be the most important market, buying almost €100 million of Irish marine products.

The BIM identifies the EU's Common Fisheries Policy review last December as the most significant development last year for the sector. In the lead-up to the December review, new grant-approved investment under the National Development Plan reached a record €77 million last year, across the catching, aquaculture, processing and marketing sectors. EU grant aid for fleet renewal is to be phased out from 2004.

Pressure on certain fish stocks meant that increased resources were devoted to fisheries conservation and stock recovery by BIM scientists, working in partnership with the Department of Communications, Marine and Natural Resources, and the Marine Institute. There was also a concerted focus on implementing new safety standards in the industry.

"BIM is firmly focused on the effective implementation of the Government's programme for the seafood industry," Mr Pat Keogh, BIM's chief executive, commented.

"In recent years the industry has out-performed other sectors of the food industry and this has brought lasting benefits to the most remote coastal areas of the country.

"With continuing State and EU support, and BIM's integrated resource and market-led development approach, the industry can readily achieve the ambitious growth targets set for it up to 2006."