The sterling strengtened again this week, with 1 EUR now worth 0.75 GBP. The value of the euro is expected fall again with the recent election of Syriza in Greece and European deflation.

Bord Bia's UK Market Manger Michelle Butler told the Farmers Journal that Irish manufacturers become more and more cost competitive as the pound continues to strengthen.

"With the intensity of retail price competition between UK retailers continuing, they will be actively seeking out more cost effective suppliers of food and drink products," she said. "A number of economic forecasters believe that the pound will continue to strengthen against the euro due to the strength of the UK’s economic recovery.

"Therefore, there has never been a better time for Irish suppliers to be targeting the UK market."

Bord Bia will be holding its largest trade event, Marketplace International 2015, on the 26 March in Dublin.

"This represents a huge opportunity for Irish suppliers with over 100 buyers from the UK travelling to this event," Michelle concluded.

The UK is our largest market with export value unchanged in 2014 at €4.2bn. However, its share of total exports fell from 42% to 40%.

Bord Bia's Export Performance and Prospects for 2014-2015 said that the weakening of the euro should continue for the next 12-24 months, though it will have the knock-on-effect of driving prices for inputs and raw material.

Weak euro boosts competitiveness of Irish food exports