Inshore Ireland 10.2 Apr-May 2014

Page 1

www.inshore-ireland.com The Marine & Freshwater Environment Publication

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BIM SEAFOOD CONFERENCE

PAGES 12-13

PAGES 14-15

April/May 2014 Vol 10 Issue 2

ONLINE EDITION

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Can Ireland overcome challenges and become a global seafood supplier? Gillian Mills

I

reland’s seafood sector has the potential to increase sales to €1 billion and deliver 1,200 additional jobs by 2017, delegates heard at a recent industry conference organised by BIM. But the sector faces similar challenges to the 1980s Irish dairy industry of quota restriction, a fragmented processing infrastructure, a limited international footprint and zero presence on the stockmarket, warned Joe Gill,

director of Goodbody Ireland. He added that the dairy sector evolved by consolidating through investment. “The seafood sector should have the ambition to follow that route,” he told participants attending Capturing Ireland’s Share of the Global Seafood Opportunity. “Taking a 10-year view, it is not unreasonable to target three stockmarket listed seafood companies based in Ireland but operating globally. To achieve this, the sector must have leadership, vision and capital.”

Far East markets

Worth €810m in 2013, the seafood sector is now looking east to new markets in Asia where demand for quality produce is showing major growth. Irish shellfish in particular is highly sought after in China and Hong Kong where exports have increased by 34%. A major challenge however facing Ireland’s seafood sector is building scale. Of the 180 registered seafood companies with processing facilities, many are small, often family-run with turnover of less than €10 million.

While family-run businesses will remain an essential component of the Irish seafood landscape, it is in stark contrast to a typical European competitor with an average turnover in excess of €50m. “Ireland is being presented with opportunities for unprecedented sectoral growth, largely dependent on our ability to produce and supply fish and related products to an increasing world population,” remarked Jason Whooley, BIM chief executive. “Demand for seafood will see the global requirement

for fish grow by an additional 42 million tonnes per annum by 2030.” He added that the opportunities being presented can only be fully utilised if Ireland increases sustainability, competitiveness, grows industry scale and expands the raw material base. In terms of scale, the agency’s CEO outlined the inward investment opportunities for the sector: “Irish seafood is considered a premium protein commodity on our key markets. »» page 14

On the summit of the icon. The sea stacks of Co Donegal are some of Ireland’s oldest and longest rock climbs. See page 31. Photo Iain Miller, www.uniqueascenet.ie


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