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Title: Watch and listen: dairy drives 2017 food exports to new highs
The dairy sector was the strongest performer for exports in 2017, with the value of dairy and ingredients exports reaching €4bn. The overall value of food exports increased by 13%, (€1.5bn) to €12.6bn
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Watch and listen: dairy drives 2017 food exports to new highs
The dairy sector was the strongest performer for exports in 2017, with the value of dairy and ingredients exports reaching €4bn. The overall value of food exports increased by 13%, (€1.5bn) to €12.6bn
Ireland’s food and drink sector recorded its eighth consecutive year of export growth in 2017, with dairy exports the driving force behind the increase.
Bord Bia’s Export Performance and Prospects 2017-2018 report estimates that the value of food and drink exports increased by 13%, (€1.5bn) to €12.6bn, representing growth of almost 60% or €4.7bn since 2010.
The dairy sector was the strongest performer for exports, with the value of dairy and ingredients exports for the year reaching €4bn – a 19% increase on 2016.
Specialised nutritional powders remain the leading dairy export at about €1.3bn. Dairy comprises one third of all Ireland’s food and drink exports.
Listen to an interview with Bord Bia's director of markets Padraig Brennan in our podcast below:
Meanwhile, the total value of meat and livestock exports increased by 8% to almost €3.9bn, with this market now equating to 31% of all food and drink exports.
Export markets
Shipments of Irish food and drink to international markets outside the EU grew by 17% to €4bn, underpinned by increases in sales of dairy, beverages and prepared foods.
Exports to the UK rose by an estimated 7% to some €4.4bn despite the ongoing weakness of the sterling. However, the share of exports to the UK has continued to fall; it is now estimated at 35% – down two points on last year.
Expansion was recorded for the year in the Middle East, Asia and Africa, where it grew by almost 30% to over €600m, and the United States, which recorded robust growth levels to exceed €1bn for the first time.
Where are Irish food exports going?
35% go to the UK, down from 37%, with a value of €4.5bn.
33% go to other EU, markets with a value of €4.1bn.
32% go to international markets outside the EU, accounting for €4bn worth of exports.
Currency
Currency movements continue to impact on Irish export competitiveness, with Bord Bia highlighting that the sterling has remained weak in relation to the euro, averaging around £0.88 but has fluctuated higher at times, averaging £0.92 in August and September.
As about one third of trade is conducted in sterling and almost the same amount on international markets that predominantly trade in dollars, Bord Bia said that Irish food exports have a considerable currency exposure.
Speaking at the launch of the report, the Minister for Agriculture, Michael Creed, said: “Last year marked the eighth successive year of growth for total Irish agri-food exports, to reach a record of €13.5bn [including non-edible agri-food sector goods].
“Bord Bia’s report provides valuable insights into the sectors and markets behind the very welcome 13% increase in the value of food and drinks exports to €12.6bn.
“Industry, in line with my Department’s market prioritisation strategy, is continuing to diversify, with exports to international markets reaching €4bn for the first time.
“Trade with the UK, which remains our most valuable market, has grown in overall terms, despite the difficulty presented by Brexit and a weaker sterling.”
Boost
Bord Bia chief executive Tara McCarthy, emphasised how increased volume in our key export sectors, combined with strong market returns, helped boost trade throughout 2017.
“In terms of yearly growth rates, the dairy sector grew by almost 20% to reach €4.02bn, confirming its position as the number one exporting sector.
“Within the dairy sector, the value of Ireland’s butter exports rose by a remarkable 60% this year alone, to reach €879m. This growth accounted for over half of the total increase in dairy exports.
“Notwithstanding its impact on the overall export figures, it is worth noting that increased export volumes recorded for both beef and dairy also played a pivotal role in this year’s export performance.
“Pigmeat and sheepmeat also recorded increased volumes, at 3% and 14% respectively.”
Watch an interview with Tara McCarthy from Friday's meat marketing seminar below:
For more on the Bord Bia Export Performance and Prospects 2017-2018 report and an exclusive interview with Bord Bia chief executive Tara McCarthy, see this week’s Irish Farmers Journal.
Ireland’s food and drink sector recorded its eighth consecutive year of export growth in 2017, with dairy exports the driving force behind the increase.
Bord Bia’s Export Performance and Prospects 2017-2018 report estimates that the value of food and drink exports increased by 13%, (€1.5bn) to €12.6bn, representing growth of almost 60% or €4.7bn since 2010.
The dairy sector was the strongest performer for exports, with the value of dairy and ingredients exports for the year reaching €4bn – a 19% increase on 2016.
Specialised nutritional powders remain the leading dairy export at about €1.3bn. Dairy comprises one third of all Ireland’s food and drink exports.
Listen to an interview with Bord Bia's director of markets Padraig Brennan in our podcast below:
Meanwhile, the total value of meat and livestock exports increased by 8% to almost €3.9bn, with this market now equating to 31% of all food and drink exports.
Export markets
Shipments of Irish food and drink to international markets outside the EU grew by 17% to €4bn, underpinned by increases in sales of dairy, beverages and prepared foods.
Exports to the UK rose by an estimated 7% to some €4.4bn despite the ongoing weakness of the sterling. However, the share of exports to the UK has continued to fall; it is now estimated at 35% – down two points on last year.
Expansion was recorded for the year in the Middle East, Asia and Africa, where it grew by almost 30% to over €600m, and the United States, which recorded robust growth levels to exceed €1bn for the first time.
Where are Irish food exports going?
35% go to the UK, down from 37%, with a value of €4.5bn.
33% go to other EU, markets with a value of €4.1bn.
32% go to international markets outside the EU, accounting for €4bn worth of exports.
Currency
Currency movements continue to impact on Irish export competitiveness, with Bord Bia highlighting that the sterling has remained weak in relation to the euro, averaging around £0.88 but has fluctuated higher at times, averaging £0.92 in August and September.
As about one third of trade is conducted in sterling and almost the same amount on international markets that predominantly trade in dollars, Bord Bia said that Irish food exports have a considerable currency exposure.
Speaking at the launch of the report, the Minister for Agriculture, Michael Creed, said: “Last year marked the eighth successive year of growth for total Irish agri-food exports, to reach a record of €13.5bn [including non-edible agri-food sector goods].
“Bord Bia’s report provides valuable insights into the sectors and markets behind the very welcome 13% increase in the value of food and drinks exports to €12.6bn.
“Industry, in line with my Department’s market prioritisation strategy, is continuing to diversify, with exports to international markets reaching €4bn for the first time.
“Trade with the UK, which remains our most valuable market, has grown in overall terms, despite the difficulty presented by Brexit and a weaker sterling.”
Boost
Bord Bia chief executive Tara McCarthy, emphasised how increased volume in our key export sectors, combined with strong market returns, helped boost trade throughout 2017.
“In terms of yearly growth rates, the dairy sector grew by almost 20% to reach €4.02bn, confirming its position as the number one exporting sector.
“Within the dairy sector, the value of Ireland’s butter exports rose by a remarkable 60% this year alone, to reach €879m. This growth accounted for over half of the total increase in dairy exports.
“Notwithstanding its impact on the overall export figures, it is worth noting that increased export volumes recorded for both beef and dairy also played a pivotal role in this year’s export performance.
“Pigmeat and sheepmeat also recorded increased volumes, at 3% and 14% respectively.”
Watch an interview with Tara McCarthy from Friday's meat marketing seminar below:
For more on the Bord Bia Export Performance and Prospects 2017-2018 report and an exclusive interview with Bord Bia chief executive Tara McCarthy, see this week’s Irish Farmers Journal.
One-hundred-and-seventy people attended the Bord Bia dairy markets seminar on Tuesday 16 April to gain insights on trade and consumer behaviours, writes Sarah McIntosh.
Rabobank is predicting that environmental restrictions and a lack of succession on dairy farms is going to result in a contraction of the EU milk pool.
The likelihood of turning out cows in five weeks' time seems very remote for English farmer Joe Collingborn.
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