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THE VALUE OF Irish food and drink exports continues to grow – and approached a record €10 billion for the first time in 2013.
That’s according to new figures released by Bord Bia today, which show that the figure represents an increase of 9 per cent on the previous year and 40 per cent in the last four years.
Revenues are almost €3 billion higher than in 2009.
Popular products
While export values for dairy product and ingredients exceeded €3 billion for the first time, there were also strong performances for meat and livestock (€3.3billion) and prepared foods (€1.65 billion).
The Christmas Tree Growers Association estimated that 250,000 of the 650,000 trees harvested were exported in 2013, with an estimated export value of €5.5 million.
There were strong mushroom exports, a decline in seafood exports, but an increased shipment of whiskey and mineral waters.
The strongest performing categories of prepared foods included fat-filled milk powders, cooked meats, pizza, sauces, bakery and confectionary.
Minister for Agriculture, Food and the Marine, Simon Coveney, TD said “This leading performance in what was a challenging year for the industry, highlights the key role of agri-food, Ireland’s largest indigenous sector, in underpinning exports and economic activity.”
Key markets
The largest export destination for Irish food and drink remains the UK, with 42 per cent of exports worth an estimated €4.1 billion reaching that market in 2013.
Meanwhile, exports of food and drink to other EU markets increased by 11 per cent in 2013 reaching €3.2 billion.
There were also strong exports to Asia, and to a lesser extent Russia, said Bord Bia, which contributed toward an increase of 6 per cent in the value of trade to international markets – this exceeded €2.6 billion in the period.
Exports to China grew by over 40 per cent, with values trebling over the last three years to reach €390 million in 2013.
China is now Ireland’s sixth largest market overall, with strong dairy and pork exports contributing to this, and seafood and beverage exports also growing.
Bord Bia said that eventual access to the beef market will further broaden the industry’s presence in China, and the inclusion of hide exports from the beef industry would bring the market’s value overall for the sector to €432 million.
Bord Bia said that the market environment for Irish food and drink remains “positive” for the year ahead.
Industry
A Bord Bia industry survey showed that exporters remain positive about prospects for their business.
Some 75 per cent of exporters expect their export sales to grow in 2014. Next year, Bord Bia will continue to take part in trade exhibitions, including Gulfood in Dubai.
It will also roll out its Sustainable Dairy Assurance Scheme to provide a uniform mechanism of recording, monitoring and improving the sustainability of Irish dairying at farm level.
This coincides with Bord Bia’s plans to invest almost €3.5million during the year in a new marketing campaign, under the Origin Green banner, to promote Ireland as a source of world-class sustainably produced food and drink.
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If These parasitic agencies had their contribution to the global financial crisis rated it would be a triple A +.it is extraordinary that these dregs of morality ,along with the likes of Goldman Sachs can still hold sway in the the financial system and I say this as a firm believer in capitalism ! Great article Btw
Set up a Eurozone based Rating Agency.
Well Fitch are run by a french company
Joint headquartered in New York and London.
S&p had Lehmans at AAA up into the week that they actually went bust and left millions of creditors high and dry!!!!!
True. And why are we still hearing about their pronouncements on the news? Laziness from journalists, governments and bankers? If they were any good they’d be called “Excellent & Loaded” anyway
Only because the credit agencies base their ratings on factual information rather than government propaganda and governments can’t stand anyone who isn’t playing ball.
I assume you are looking for a reaction with that moronic comment , well you suceeded, troll!
No, the US was downgraded by S&P based on sound monetary data, whereas your comments are based on your ignorance.
Yes, they “eventually” started doing their Job, after playing their part in wrecking the world’s economy. Where was their “Data” when they gave triple A ratings to Billions of Dollars of subprime mortgages wrapped other good loans in the US. Of course this was insured by AIG in the form CDS’ that brought the biggest insurer on the planet to its knees, 85 billion to bail out Bear sterns ,200 Billion to bail out Fannie Mae /Freddie Mac , all because of subprime. Yes the banks were reckless but I wonder what their rating had been??? mmm. I suppose you heard there excuse in the congressional hearings, well of course you didn’t, anyway, it was that “we only give advice/guidance, it’s really up the institution what they do with it.
This is a country where there is now nearly a million people living in tents. And the behaviour off the Rating agencies, Financial was morally repugnant. Then we have monkey talk from the likes of you !
No McManus, you are displaying +your+ ignorance.
In contrast to member countries of the Eurozone, the US remains the sovereign issuer of its own (free floating) currency and because of this fact can never go bankrupt or default on debt denominated in US$.
When S&P downgraded US gov debt, thru’ some combination of political ideology & stupidity, the market interest rate did precisely nothing – +nada+. Indeed, given the even low rate of inflation the US gov can sell every $ of its debt, still, at an even lower rate of interest. Yes, buyers of US gov debt are actually +paying+ to hold it when inflation is taken into account.
Whilst the variously fraudulent, corrupt & ideologically motivated behaviour of the ratings agencies is a key (& unaddressed) part of the cause of the financial meltdown, it is only the tip of the iceberg.
Besides the control fraud (cf former US regulator William K Black) of the financial institutions, both in the US and Europe, we should also be demanding examination of the endemically flawed macro economics thinking that still ignores the effect of debt – indeed the function of banking itself – in its modelling of national economies. Ever wondered why the mainstream of economics had no clue the crisis was coming mere weeks before the crash? Or why the Eurozone is getting worse not better 5 years later?
Irish economists & commentators (with the exception of Dublin based writer Philip Pilkington) continue to be absolutely lamentable on these vital issues. Of course, with secure 6 figure salaries & guaranteed fat pensions, +they+ are not suffering are they?
If you want to find the facts of the intellectual bankruptcy endemic in mainstream macro economics (macro, because national economics is profoundly not like your household or business, despite all the BS from media etc. implying it is) you need to look outside Ireland. Readily available practical solutions are also discussed. (Yes, there are solutions that do not involve massive unemployment for decades & beyond.)
See Prof Bill Mitchell here:
http://bilbo.economicoutlook.net/blog/
Good articles here:
http://www.nakedcapitalism.com/
And Prof Steve Keen here;
http://www.debtdeflation.com/blogs/
It takes a little time and study to discover the truth in macro economics. But surely we owe it to our children to find out, if not for ourselves. We will not be gifted the solutions that are readily available. The present system is a lie from start to finish, that serves to enrich the top few percent, at the expense of the rest of us, thru’ the creation of both booms & busts.
A good article by Hugh O’Connell here, but there is so much more needs fundamental examination & reform including the Euro structure itself.
S&P are number crunchers that’s all, they do what they do for their clients. Governments oversee financial regulation and dictate financial policy, so stop shooting the messenger! It’s beginning to sound like late Weimar Germany around here with the level of wingnut economic theory being flung about. Corruption and cronyism in politics, get-rich-quick economic policy, war mongering abroad, all must be paid for at the end and the chickens have come home to roost for America.
I know something about the “Pillars of Society’ that you don’t. Further details by searching in Google for ‘ Devrajan Hanna Butler Foley’
Cheers
The Common Informer
People need to understand that Ratings Agencies use historical data (good or bad) so they are after-the-fact telling us what is wrong. They cannot predict. The reason they are still viewed as important is that the prospectuses of funds tends to state that the funds cannot invest in shares/stocks etc less than X or Y rating which is purely a marketing exercise. They serve no real purpose other than marketing/political purposes and anyone who uses them as a benchmark is crazy/delusional.
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