Ireland’s Food and Drink Exports to Approach €9 Billion in 2011

 Breaking News
  • Building the Unilever of the Future Unilever has announced the next steps in its transformation into a simpler, more agile and more focused business. The changes are designed to further drive long-term performance and shareholder value, and build upon the company’s Connected 4 Growth programme. Unilever will simplify its corporate structure. This entails moving from two legal entities – Unilever NV and [...]...
  • Irish Whiskey Association Welcomes 14% Increase in Exports in 2017 Irish whiskey exports recorded a 14.2% increase in value in 2017, according to the Central Statistics Office’s (CSO) 2017 Trade Statistics report. Irish whiskey is exported to over 135 international markets. The category saw a 16.7% increase in exports to the US, its largest export market; a 15.7% increase in exports to Canada and 9.2% increase in [...]...
  • 1 in 5 Meals Eaten Out of Home as European Consumers Favour Service Over Home Cooking More flexible menus and an increase of meal occasions from breakfast and all day brunch through to dinner has led to a €4.1 billion increase in food service sales in 2017 to €335.9 billion according to a new report launched by IRI GIRA Foodservice. One in five meals (18% of all meals) are consumed outside the [...]...
  • Nestlé UK & Ireland Cuts More Than 60 Billion Calories in Just Three Years The amount of sugar in Nestlé’s UK and Irish products has been reduced by more than 2.6 billion teaspoons since 2015 thanks to an ongoing, intensive programme of innovation and reformulation. A report, issued by Nestlé, reveals that more than 60 billion calories have also been removed from Nestlé UK & Ireland’s portfolio in the [...]...
  • Müller Targets New Segments of UK Yogurt Category Müller UK & Ireland has announced two new yogurt products as it continues to develop, manufacture and market a new generation of branded yogurt and desserts products. The dairy company, which is the Official Yogurt of British Athletics*, has revealed Müller Quark Yogurt and Müller Corner Lactose Free*, with both products launching in March and May [...]...

Ireland’s Food and Drink Exports to Approach €9 Billion in 2011

Ireland’s Food and Drink Exports to Approach €9 Billion in 2011
September 26
09:54 2011

Irish food and drink exports in 2011 are expected to reach a record high of €8.9 billion, an increase of more than 12%, or almost €1 billion, on 2010 levels. This follows growth of €700 million in 2010 leaving Ireland’s food exports in 2011 some 25% ahead of 2009 levels. Meanwhile, against a backdrop of strong global demand and high prices, eight out of ten exporters surveyed by Bord Bia rate their prospects as improved or very improved compared with this time last year.


All major categories are expected to show growth this year, led by dairy and meat, which combined account for more than 60% of Ireland’s total food and drink exports. Strong global prices are driving export growth, with the FAO food price index 26% ahead of this time last year, however increased volumes of dairy products, pigmeat, whiskey, cider, confectionery, sauces/soups and mushrooms are also boosting revenues. It is estimated volume growth across these categories will account for up to 30% of the total.


“As world supplies struggle to keep pace with the growth in global demand, the outlook for food exporters for the remainder of the year and into 2012 remains positive,” points out Aidan Cotter, chief executive of Bord Bia.  “The latest surge in world food prices is further evidence that the era of cheap food is at an end, yet while forecasts point to a longer term upward trend, the conditions for volatility in prices remain in the form of weather-related events, fluctuating stock levels, exchange rates and market speculation.”


Figures for the first half of 2011 show some change in the market distribution of Irish food and drink exports. The UK remains the principal export destination, although its share of total exports fell from 44% to just over 40% compared to the same period last year. This reflects the fact that much of the growth in dairy and to a lesser extent prepared foods, beverages and beef has occurred outside of the UK market.


The proportion of exports going to other European markets jumped by two percentage points to 35% for the period as stronger dairy, beef, beverage and prepared food exports boosted trade. International markets accounted for 25%, driven in particular by stronger dairy exports.


While the consumer search for value continues apace, the initial signs of rising consumer prices have emerged acrossEuropeduring 2011. In July 2011, the consumer food price index for the euro area was almost 3% ahead of a year earlier while UK prices were 6% higher than a year earlier.


The ongoing volatility in exchange rates presents a challenge for Irish exporters. Current exchange rates leave the euro 9% stronger against the US dollar and 5% stronger against sterling than September 2010.


The Irish manufacturing sector has improved its competitiveness over recent years with Ireland’s Competitiveness Scorecard for 2011 published by Forfas showing a more productive and cost competitive industry. During the period April 2008 to February 2011, Ireland’s harmonised competitiveness index depreciated by more than 12% in real terms, which is helping the sector’s competitiveness on export markets.

About Author



Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • March 18, 2018ProWein
  • March 21, 2018World Olive Oil Exhibition
  • March 28, 2018FOOD INDUSTRY
  • April 4, 2018The leading event for the snack and food-on-the-go market
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here