We ignore bountiful seafood sector at our peril

THERE are few more pleasurable ways of passing time than sauntering along the fishing villages of Ireland’s south coast.

Aside from the spectacular scenery, creamy pints of locally brewed stout, thick slices of brown bread and fresh crabmeat can satisfy the most demanding palate. It beats the socks off Beluga caviar washed down with Dom Perignon any time, in my humble opinion. So why does seafood remains the poor cousin of the Irish food industry?

Ireland has, arguably, the most productive grassland in the entire northern hemisphere. This provides a comparative advantage on which we have built a hugely successful dairy industry and it underpins a powerful beef sector too. Both are key planks of all plans to rebuild our shattered economy. Irish land produces about €5bn of primary products each year and accounts for 5.5% of employment and 6% of exports.

Contrast that with the pitiful state of Irish seafood. Despite being surrounded by arguably the most productive and cleanest ocean on the planet, we only generate 0.45% of our GDP from seafood. The level of under-investment is seen in the fishing vessels around the coast. They are generally small and worn out. Yet, we live in an economic block (EU) which has annual demand for 12 million tonnes of seafood, valued at over €60bn. A whopping 65% of that is imported from outside the EU. With such a gaping trade deficit in seafood, why is Ireland unable to tap that potential?

The answer is multi- faceted. In the 1970s when the Common Agricultural Policy was being created Ireland clearly prioritised farming. While the fishing fleet and manufacturing plants were starved of resources, huge amounts of money were poured into milking parlours and processing plants.

The results are a bit depressing. Despite Ireland having a 200-mile supposed exclusion zone around our coasts, our fleet catches just 48% of what is hoovered up in our seas. Moreover, only 40% of the actual catch is landed at Irish ports, which also undermines any scope to add value to it on land.

Now, we also face the challenge of conservation and genuine concerns exist about the prospects for previously plentiful fish species. This adds to the long list of excuses rolled out by policymakers regarding the limited potential of the seafood industry. You can add politics to the mix. Because fishing people are such a small part of our workforce their political clout is minute.

Changing all of this requires hard and brave decisions by our political leaders. Here are a few ideas to upset the cosy consensus (in Brussels and Dublin) over the fishing sector:

nIssue a decree all seafood caught in the 200-mile Irish exclusion zone has to be landed in Ireland.

nCreate a large shellfish investment fund (shellfish are not subject to quota) designed to grow, process and export this high-value food source with a target of a 10-fold volume increase. nInvite global infrastructure funds to make proposals designed to leverage Irish sea assets with the aid of government backing. The industry itself needs to find a greater voice too. Why does it not have a weekly page in the top agri-food media such as the Farming Examiner and the Irish Farmers Journal, where the industry’s contribution and potential are consistently advocated?

Looking out from Sheep’s Head, the glorious Atlantic is one of the true wonders of the world but it must also be seen as a fertile and rich resource with far more to contribute to our economy.

In the same way that we cannot imagine the Golden Vale without milking parlours and dairy processing plants, we should be indignant that our political leaders leave the waters of Ireland, effectively, to someone else.

*Joe Gill is director of research with Bloxham Stockbrokers