Seafood report lands
Castletownbere was the State’s 2nd largest fishing port in 2022 by value with landings worth €129 million, a new report published this week found.
The Bord Iascaigh Mhara (BIM) Business of Seafood report, published on Tuesday, revealed that the value of the Irish seafood economy increased to €1.3 billion in GDP terms last year, an increase of 4% compared to 2021.
BIM said this was largely driven by an increase in domestic consumption of seafood in Ireland in the foodservice sector as well higher prices, both domestically and on the main export markets. There was also a significant increase in Government investment in 2022 as funding under the Brexit Adjustment Reserve (BAR) began to come on stream.
The BIM report was launched by Minister for Agriculture, Food and the Marine, Charlie McConalogue TD and also revealed a 10% increase in Government investment (€255 million) in 2022. This includes the opening of several BAR schemes to support the industry in the latter half of the year.
Minister McConalogue referred to the significant challenges facing the industry in 2022 including the conflict in Ukraine which led to rising energy costs as well as reduced quotas and difficult trading conditions with the UK in the aftermath of Brexit: “Following from the economic shocks in 2020 and 2021 from the global pandemic and Brexit, 2022 brought with it a new set of challenges created by the war in Ukraine. This has seen energy prices rise to unprecedented levels and created a difficult trading environment for the whole seafood sector adding to challenges brought on by Brexit.
“However, the industry has once again shown is resilience to such shocks and continues to be a key socio-economic driver in coastal communities, employing more than 15,000 people. I recognise the pressure those working in the industry have faced in the last year, and that is why I have delivered significant funding under the Brexit Adjustment Reserve to assist the sector.”
The top-selling species on the Irish market during the year were salmon (€119 million) and cod (€44 million). Organic salmon was the top species produced by the aquaculture sector – accounting for 13,500 tonnes worth €124 million, while Dublin Bay prawns were the top species landed by the Irish fleet, accounting for 6,200 tonnes with a value of €82 million.
Caroline Bocquel, CEO of BIM, acknowledged the enduring strength of those working in the seafood industry and said it played a vital role in coastal communities in Ireland. “The strong reputation of Irish seafood is evident in the figures released in this latest Business of Seafood report. Last year saw significant market volatility and disruption, following so soon after Covid and Brexit. The dedication and resilience of those working in the industry is reflected in the increased value of the sector as a whole. BIM remains steadfast in its commitment to support industry to navigate the fast-changing global landscape.”
The sector employed about 15,300 people in 2022, with 1,993 registered vessels, over 10 seafood processors and just under 300 aquaculture sites. More than 8,200 people are directly employed in the sector, with a further 7,100 jobs supporting the sector indirectly.
The 2022 Business of Seafood report is available for download at BIM.ie.