January 21, 2008

Irish seafood income increases 6 percent
 

According to the Irish Sea Fisheries Board, An Bord Iascaigh Mhara, Irish seafood had sales increase from EUR 778 million (US$1.13 billion) in 2006  to EUR 850 million (US$1.23 billion) in 2007.

Domestic seafood sales to the retail sector have increased to EUR 169 million (US$246 million) while sales to food-service sector have increased to EUR 213 million (US$310 million), a 7-percent and 5-percent increase respectively.

BIM chief executive Jason Whooley said that the growth in domestic market has contributed to the seafood sector's good performance.

Irish seafood exports had an approximate value of EUR 360 million (US$524 million) in 2007, with France and UK being the most important destinations.

New markets have opened up too. Whooley said 2007's exports to non-traditional markets of Japan, South Korea, Hong Kong and China, have shown positive sales increase which amounts to EUR 20 million (US$29 million) and he expects a continuous growth in these markets.

Exports to Nigeria have also seen a 120-percent increase in volume and 80 percent in value, to almost EUR 10 million (US$14.5 million). There was also a lift in trade to Egypt, with exports worth approximately EUR 7 million (US$10.2 million).

The growth was achieved despite reduced landings at Irish ports, increased fuel prices, a decline in the export of pelagic products and nominal growth in exports, said Whooley.

He added that it is important that Ireland focuses on maximising its indigenous industries, including the seafood sector in the face of increasing global economic challenges.

BIM has given grant aid amounting to EUR 6.56 million (US$9.55 million) in 2007 to ninety firms engaged in aquaculture. Total grant-aided investment for the future fleet and sea fisheries amounted to EUR 8.9 million (US$13 million), with EUR 4.7 million (US$6.8 million) provided to support processing and marketing.