The UK’s departure from the EU “represents a significant challenge” to Ireland’s agri-food industry, Bord Bia, the government agency that promotes the industry domestically and abroad, said this afternoon (24 June).

In 2015, export sales to the UK were worth an estimated EUR4.4bn (US$4.89bn) after rising 7% on 2014. Sales to the UK accounted for 41% of the value of Ireland’s food and drink shipments last year, which totalled EUR10.83bn.

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

When Bord Bia announced the figures in January, it said: “With 41% of exports going to the UK and 28% to markets that predominantly trade in US dollars, any change in exchange rates has the potential to impact on competitiveness.”

Aidan Cotter, chief executive of Bord Bia said the agency would continue to work with Ireland’s food industry to “maintain and build on this vital trading relationship” against the background of any new trading arrangements that are set to be negotiated after Brexit.

“The UK is Ireland’s largest customer for food and drink. Despite its continuing and expanding global reach, the UK has continued to represent a growth opportunity for the Irish food and drink industry, driven by a strong economy and an increasing population,” Cotter said. “The UK is a net importer of food and Ireland as an exporter is considered a perfect match. The immediate focus of food and drink exporters concerns the development in the sterling versus euro relationship and how to manage the increased volatility that has emerged following the vote.”

However, Cotter added: “The resilience of the Irish food sector, the longstanding and strong trading relationship between Ireland and the UK, and the close ties between both countries will help the Irish food industry navigate through these uncertain times.”

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now