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Increase in food and drink exports continues

Updated / Wednesday, 14 Jan 2015 19:56
Dairy, poultry and seafood performed well
Dairy, poultry and seafood performed well

Irish food and drink exports rose for the fifth consecutive year in 2014, reaching a record value of €200m per week.

Most of the growth occurred outside of Europe, including an almost 40% increase in food exports to China.

However, Bord Bia has warned that 2015 will be a more challenging year with weak dairy prices and reduced beef exports expected to make it very difficult to maintain the growth in export values.

Ireland's food and drink exports have grown nine times faster than the country's total exports over the last five years.

Last year, they reached almost €10.5bn, or €200m per week, which is 4% higher than 2013.

Prepared foods accounted for one third of the increase.

Dairy, poultry and seafood also performed well, with extra volumes more than compensating for lower dairy and cattle prices.

A 45% increase in food exports to Asia, particularly to China, was key.

Bord Bia is warning, however, that 2015 will be tougher.

Nevertheless its annual survey of food industry executives revealed a good degree of optimism, with 94% expecting export sales to either increase or to be maintained at this year's levels.

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