Minister for Agriculture, Fisheries & Food Brendan Smith has said the indicators for the Irish agri-food sector were 'positive' in the short and medium term.
The Minister described the agri-food sector as being 'of central importance to our economy' and stressed the need for the industry to place increasing emphasis on innovation as it gears up to meet the demands of an ever more competitive marketplace.
Addressing the Agricultural Science Association National Conference in Galway, the Minister said that notwithstanding the global economic downturn the prospects for agricultural commodities on world markets are good.
He said this was good news for the Irish agriculture and food sector - presenting opportunities into the future.
The Minister emphasised that given the difficult economic climate, it was important that Ireland played to its strengths, and said that global demand for meat and milk is projected to more than double over the next 40 years.
Mr Smith said it is imperative that the sector makes every effort to develop at the premium end of such markets and realises Ireland's undoubted potential to be a major supplier of quality food for the global market.
