Premium tag will help agrifood sector grow

Ireland’s agrifood business could be worth up to €26bn by the end of next year as the country continues to position itself as one of the world’s premium food producers.

Improved domestic demand allied with the country’s strong export performance will push food and beverage output up 8% to €26bn, and agriculture output up to €8bn by the end of 2016, according to trade credit insurer Euler Hermes.

Irish farmers, however, are struggling at present with the downward trend in global commodity prices and agricultural prices.