€1bn boost for Ireland's food and drink exports

The record-breaking performance was driven by dairy and dairy ingredients exports up 17% (€2.6bn), seafood exports up 13% (€420m), and prepared foods up 12% (€1.5bn) compared with the previous year.

Exports of meat and live animals rose 11% (€2.8bn) while horticultural and cereals exports were up 9% and beverages climbed 6%.

Bord Bia said exports were boosted by global prices for major commodities, a positive supply/demand balance in some key categories, a tentative return to price inflation across most major European markets and reduced volatility in exchange rates.

Excellent achievement​

Michael Carey, chairman of Bord Bia said: “This is an excellent achievement and the industry is to be commended for its strong export performance, which affirms its positioning at the heart of the Irish economy.”​

Carey added: “ Global market conditions, reflected in strong commodity prices, remain favourable and exporters are voicing continued optimism about their business prospects for the year ahead.” ​

The value of exports to the UK climbed 6% to €3.66bn and accounted for 41% of total Irish food and drink exports.

Exports to other European markets rose by 16% or €400M to reach €3bn compared with 2010.

All major markets showed strong export growth led by the Netherlands, Germany and France. Exports to EU countries accounted for 34% of total exports.

The value of exports outside Europe rose by 20%, or €350M, to reach nearly €2.2bn.

Food and drink exports increased at three times the rate of total exports leading the sector to account for 25% of total export revenue.

Aidan Cotter, chief executive, Bord Bia highlighted the country’s continued diversification into new markets, with exports to Asia up by one-third.​

Milk quotas​​

Cotter said: “The meat and dairy sectors account for almost two-thirds of total food and drink exports. And indications that breeding herds are expanding, combined with the lifting of milk quotas from 2015, will underpin export growth into the future.”​

While export prospects for this year are positive, the organisation predicted that ​lower volume output availability in some sectors plus further softening in global commodity prices are likely to result in more limited growth potential.

Cotter concluded: “Ireland​ has a compelling story to tell in terms of its green and natural environment and our sustainability programme will demonstrate our credentials and differentiate us in a world that is increasingly concerned about climate change and about how we use our natural resources”.​

Meanwhile, more than 300 international and 100 domestic food and beverage buyers are expected to visit Bord Bia’s Marketplace International 2012 next month.

The event will take place in the Convention Centre, Dublin on February 7.