Irish food and drink exports to the UK market surged 4% to E2.655bn in 2003 against a backdrop of adverse currency movements and intense competition.
With the euro up 8.2% on the pound and sterling sales having to be converted back into euros, the underlying growth was actually far higher than 4%, said Bord Bia chief executive Michael Duffy. “This is a very robust performance.”
Overall food and drink exports from the Irish Republic were up 2% to E6.67bn - or about 10% when the figures were adjusted for currency movements, said Duffy.
Given the value of Irish exports overall was expected to be down by 7% for 2003, he added, sales growth of 2% for food and drink was very impressive. “This is a strong result given the market and economic challenges.
“The majority of companies have faced up to the changed trading environment and have taken determined measures to be cost competitive.”
While familiar names dominated Irish dairy and meat exports to the UK, the speciality food sector had seen a large influx of new companies, with many smaller suppliers getting listings with British retailers, according to Duffy.
“We are doing a lot of work to help smaller branded players gear up for export and we are also taking a raft of meat and beverage buyers to Ireland this year to show what we can do .”
Sales of beef to the UK were up 12% and lamb up 20%.
Beverage sales were up 11% driven by cream liqueurs, spirits and malt beer.
Prepared foods, which are mainly sold in the UK market, were hit particularly hard by currency movements, with sales flat in euros but up in sterling, said Duffy.
With the euro up 8.2% on the pound and sterling sales having to be converted back into euros, the underlying growth was actually far higher than 4%, said Bord Bia chief executive Michael Duffy. “This is a very robust performance.”
Overall food and drink exports from the Irish Republic were up 2% to E6.67bn - or about 10% when the figures were adjusted for currency movements, said Duffy.
Given the value of Irish exports overall was expected to be down by 7% for 2003, he added, sales growth of 2% for food and drink was very impressive. “This is a strong result given the market and economic challenges.
“The majority of companies have faced up to the changed trading environment and have taken determined measures to be cost competitive.”
While familiar names dominated Irish dairy and meat exports to the UK, the speciality food sector had seen a large influx of new companies, with many smaller suppliers getting listings with British retailers, according to Duffy.
“We are doing a lot of work to help smaller branded players gear up for export and we are also taking a raft of meat and beverage buyers to Ireland this year to show what we can do .”
Sales of beef to the UK were up 12% and lamb up 20%.
Beverage sales were up 11% driven by cream liqueurs, spirits and malt beer.
Prepared foods, which are mainly sold in the UK market, were hit particularly hard by currency movements, with sales flat in euros but up in sterling, said Duffy.
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