Ireland’s seafood sector grew by 7.4 percent last year and contributed EUR 1.1 billion (USD 1.2 billion) to the Irish economy, finds the country’s seafood development agency Bord Iascaigh Mhara’s (BIM) latest annual “Business of Seafood” report.
Growth was led by a strong rise in domestic retail sales, which amounted to EUR 239 million (USD 270.8 million). Salmon and cod were the two top-selling species, with salmon in particular experiencing growth of 11.5 percent to EUR 94.5 million (USD 107.1 million).
BIM highlighted that there was also significant new investment in the industry, with financial support from the EU’s European Maritime Fisheries Fund (EMFF) and private investment contributing to a more modern fleet, increased processing capacity and a focus on new product development and innovation.
The improved sales and investment boosted employment in the fishing, aquaculture and processing sectors to 9,200 people, rising to 11,000 people with the inclusion of ancillary employment. Most of this employment is centered in Ireland’s coastal communities.
“The task facing Irish seafood now is to build on this momentum and to position Ireland as a key player in the supply of quality, sustainably-sourced seafood to a global market,” said the report.
Ireland’s seafood sector produced 325,000 metric tons (MT) of products worth EUR 543 million (USD 615.2 million) in 2016. Of this, wild-caught seafood represented the majority of production with 281,000 MT valued at EUR 376 million (USD 426 million). Farmed fish and shellfish followed with 43,900 MT with a value of EUR 167 million (USD 189.2 million).
In volume terms, mackerel was the main wild-caught species landed in Ireland with 76,200 MT valued at EUR 51 million (USD 57.8 million), but Dublin Bay prawns (langoustines) were the most valuable catch with 9,600 MT achieving a value of EUR 63 million (USD 71.4 million).
The primary drivers of Ireland’s aquaculture industry’s growth were the expanding Pacific oyster and salmon sectors. The production of oysters increased to almost 10,000 MT with a value of EUR 41 million (USD 46.5 million), while its salmon output reached 16,300 MT valued at EUR 105 million (USD 119 million).
BIM’s report also finds that Irish seafood imports last year amounted to 69,000 MT with a value of EUR 276 million (USD 312.7 million), representing a 19 percent decline in the volume and a 1 percent decrease in the value compared to 2015. Salmon, shrimp and cod were the country’s main imports with values of EUR 60 million (USD 68 million), EUR 29 million (USD 32.9 million) and EUR 25 million (USD 28.3 million) respectively.
The United Kingdom was by far the No. 1 overseas supplier to the Irish market last year, providing 47,400 MT of seafood worth EUR 186 million (USD 210.8 million).
Irish seafood exports, meanwhile, were valued at EUR 559 million (USD 633.3 million) in 2016, which represented a 1 percent decrease compared with 2015. Salmon valued at EUR 71 million (USD 80.4 million) decreased by 5 percent, but the unit price of fresh whole Irish salmon at EUR 7.80 (USD 8.84) per kg was on a par with 2015 and well above the average EU market price during the year.
Pelagic exports were valued at EUR 150 million (USD 169.9 million), representing a 27 percent decrease in value from EUR 205 million (USD 232.2 million) – largely due to reduced quotas in 2016. Shellfish exports increased by 21 percent to EUR 237 million (USD 268.5 million) in 2016 – an increase that was evident in all of the main shellfish categories including Dublin Bay prawns which were valued at EUR 63 million (USD 71.4 million), with Irish oysters following at EUR 34 million (USD 38.5 million).
France was the main export destination for Irish seafood last year, buying in EUR 142 million (USD 160.9 million) worth of the country’s products. It was followed by the United Kingdom and Spain, who each imported EUR 78 million (USD 88.3 million) worth of Irish seafood.
