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Ireland’s food and drink exports up by 12 percent

Irish food board reports exports reach all-time high


Irish food and drink exports increase by 12 percent<br />
Irish food and drink exports increase by 12 percent
Photo by Google Images


Bord Bia, the Irish food board, was able to report some good news with findings that Irish food and drink exports received a 12 percent boost in 2011. With the increase, exports reached an all time high gross of $11.2 billion (€8.85 bn).

In their Export Performance and Prospect for 2011/2012, Bord Bia noted that during the first nine months of 2011, “food and drink exports increased at three times the rate of total merchandise exports.”

Due to the increase, the “sector accounted for 25% of the rise in total export revenue.” 

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Bord Bia also reports that the trend in food and drink exports has been on the up and up over the last two years. The value of Irish food and drink exports has increased by €1.8 billion, or 25%, in last two years.

Bord Bia names a number of factors to that the boost may have come from. They include “strong global prices for major commodities, a positive supply/demand balance in some key categories, a tentative return to price inflation across most major European markets and reduced volatility in exchange rates.”

All areas, except for livestock, saw a boost in export. The top performers in 2011 were dairy, meat and seafood.

While Bord Bia remains hopeful for a continued boost through 2012, they are cautious that “lower output availability in some sectors combined with some anticipated softening in global commodity prices are likely to result in more limited growth potential."


See more: Irish business news , Irish food , Irish economy


2 Comments

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I think it would save a lot of time and expense if you just dropped things off at my door .....lol
According to data from Societe Generale, with the US's S&P 500 index, the only developed-world stock market to finish 2011 up in absolute terms - in the process outperforming leading emerging markets such as Mexico, South Africa, South Korea and the ‘BRIC' powerhouses of Brazil, Russia, India and China, was Ireland.
 


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