Irish seafood exports slide in 2023 due to quota cuts, weaker buying power

Seafood

Ireland

Regulation & Compliances

Market & Price Trends

Published Jan 18, 2024

Tridge summary

Ireland's seafood exports fell by 14 percent in 2023, with the reopening of live brown crab exports to China being a rare positive development. The drop in exports was mostly attributed to a sharp decrease in pelagic exports, cuts in mackerel and horse mackerel quotas, and the impact of Brexit. Ireland's shellfish exports also decreased by 7 percent due to weaker demand in key markets, and the country is looking to new markets like Vietnam to help offset the losses. The Irish government is working on a Strategic Plan for Sustainable Aquaculture Development to support growth in the sector.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Ireland’s seafood exports dropped significantly in 2023, with the reopening of live brown crab exports to China a rare bright spot.The country’s overall seafood exports fell 14 percent year over year to EUR 550 million (USD 599.5 million), according to Karen Devereux, head of the seafood desk at Bord Bia – Ireland’s state agency tasked with promoting food exports.The numbers represent the continuation of a trend from 2022, when Irish seafood exports fell 13 percent by volume to 293,000 metric tons, even though the GDP of the Irish seafood industry increased 4 percent to EUR 1.3 billion (USD 1.4 billion) Devereux attributed the bulk of the fall to a sharp drop in pelagic exports – down 45 percent compared to 2022 – due to cuts on Ireland’s mackerel and horse mackerel quotas.The effects of Brexit also continued to take a toll, as British vessels which previously landed their catch in Ireland are now required to land in British ports. Additionally, poor economic conditions in Nigeria ...

Source: Seafoodsource