Seafood exports slide 24% to €354m

MARKETS for Irish seafood were buoyant last year but exports were substantially down, according to Bord Iascaigh Mhara’s (BIM) annual review.

BIM chief executive Pat Keogh said the strong and growing reputation of seafood as natural, healthy and nutritious contributed to increased demand and buoyant markets at home and abroad.

“However, reduced fish landings at Irish ports and static output from the aquaculture sector contributed to a fall-off in processing activity and prevented the Irish industry from fully capitalising on the generally favourable market trends in 2005,” he said.

The review recorded a 5.5% increase in domestic retail sales (reaching €185 million) and an 11% growth in food service to €174m.

But total seafood exports of 198,623 tonnes were down by 62,100 tonnes in volume (24%) and by 7% in value to €354m.

BIM explained that these exports are exclusive of direct landings by Irish-registered fishing vessels into foreign ports.

Total BIM grant-aided investment in the catching, aquaculture, processing and marketing sectors amounted to €32.3m, with associated BIM/EU grant payments of €14.1m. The report states that the seafood industry had many challenges to contend with last year in terms of reduced fish supplies and was affected by increased costs due to higher fuel prices.

Last year, the imbalance between supply and demand increased across Europe with imports to the EU now accounting for 74% of all seafood consumption.

Ireland’s seafood sector is similarly affected with imports increasing to meet market demand.

The review stated 2005 saw increased prices for whitefish, salmon and pelagic fish, with strong demand for new, innovative seafood offerings.

There was strong industry take-up of BIM’s Marketing Investment Programme with 60 projects approved, resulting in €1.9m committed to the development of home and export markets in 2005.