Ireland’s seafood sector remains “resilient” in spite of Brexit and the Covid-19 pandemic, Bord Iascaigh Mhara (BIM) says.
Its annual Business of Seafood report says that Ireland’s seafood economy declined in 2020, with a drop of 12% (-€142million) compared to 2019, giving a total value of €1.1 billion.
It says this was driven mainly by a reduction of 18% in domestic consumption due to the closure of the food-service sector with additional impacts of a 17% reduction (-€44 million) in private investment and an 8% decline (-€50 million) in exports.
Global markets faced severe disruption from the Covid-19 pandemic, and when added to the continued uncertainty from the UK’s departure from the EU, this made for challenging trading conditions.
It says that despite these challenges the seafood sector remained resilient and adapted to the disruption the market faced. While there was a decrease of 18% in domestic consumption to €406 million, mainly due to a fall in sales in foodservice, this was somewhat offset by a 6% increase (€18m) in retail sales.
There was also a reduction in private investment to €213 million (-17%) reflecting the uncertainty in the markets leading to cautious activity from many seafood businesses. There was also a decline in our seafood balance of trade (exports – imports) which fell by €28 million (-10%) to €263 million.
Overall investment in the sector was €416 million, equivalent to 39% of seafood GDP, a slight increase compared to 2019, underlining the importance of strong public sector support through times of economic turbulence.
Ireland imported some €327 million euro worth of fish last year, with €188million coming from Britain.
While exports of Irish seafood to European and Asian markets were hit, Ireland’s mackerel landings drove an 87 per cent increase in the value of exports to Africa and a 43 per cent increase to the Middle East.
The assessment states that the total value of Ireland’s seafood economy in 2020 was just under €1.1 billion - a decrease of 12% (-€142million) on 2019.
BIM says this was “driven mainly by the severe disruption in global markets”, while “the continued uncertainty of the UK’s departure from the EU made for challenging trading conditions”.
“Despite the pandemic, and even with reduced demand in the foodservice sector, employment in the seafood sector remained stable in 2020,”it says, with over 16,000 employed directly and indirectly in the seafood industry.
Employment remained “high” in coastal regions, generating “significant socioeconomic value in these areas”, particularly Donegal, Cork, Galway-Clare and along the east coast.
“Undoubtedly 2020 was a challenging year for the seafood sector but yet again the sector displayed its ability to adjust and refocus to the available market opportunities,”Minister for Marine Charlie McConalogue said.
“The Irish seafood sector sells a lot of its produce to foodservice markets in Europe and in Asia which experienced lengthy lockdowns significantly impacting sales,”BIM chief executive Jim O’Toole said.
He said the industry showed “great agility” during the year, switching where possible from supplying hospitality to supplying the retail market and online sales.
Domestic consumption amounted to €406m, down 18%, exports-imports were valued at €263m, down 10% and private investment was valued at €213, down 17%, BIM says.
However, there was an increase of 9% on government investment – an increase to €203m.
Overall investment in the sector was €416 million, equivalent to 39% of seafood GDP, a slight increase compared to 2019, it says.
Some 346 million euro worth in landings was recorded in Irish ports last year, with Killybegs, Co Donegal recording 112 million euro and Castletownbere, Co Cork, recording 104 million euro worth of landings.
Some 406 million euro in domestic sales value involved 316 million euro in retail and 90 million euro in “food service”.
Top selling species were salmon at €120m and cod at€46m, and the main export markets were the EU, valued at €321m, Britain at €93m and Africa at €75m
The volume of seafood produced by the Irish seafood sector surpassed 220,000 tonnes with a value of €394m, it says.
While less than 20% of this volume was produced by the aquaculture sector, it contributed 46% of the total value.
Species by value:
- Salmon €127m (+13%)
- Irish Rock Oysters €37m (-19%)
- Seabed Cultured Mussels €7m (-15%)
- Rope mussels €6m (-11%)
- Other finfish €2m (+12%)
- Other shellfish €1m (-6%)
By volume:
- Salmon 13,400 (+14%)
- Irish Rock Oysters 9,000 (-14%)
- Seabed Cultured Mussels 4,400 (-11%)
- Rope mussels 10,300 (-1%)
- Other finfish 600 (-1%)
- Other shellfish 300 (-1%)
