The value of the Irish seafood sector increased to €1.3 billion last year despite the triple whammy of rising energy costs, reduced quotas and difficult post-Brexit trading with the UK.
This 4% increase over 2021 is driven by an increase in domestic consumption of seafood, higher prices and a 10% increase in government investment. Catch volumes were down on previous years but higher prices saw the value of seafood increase by 14%.
Minister for Agriculture, Food and the Marine, Charlie McConalogue TD spoke of the challenges facing the industry in 2022. “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,” he said.
“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.”
A new ‘Business of Seafood’ report by Bord Iascaigh Mhara reveals how price rises have seen the value of the seafood sector increase by 13% to €703 million, while the value of aquaculture products increased by 10% to €196 million.
The sector employed 15,300 people last year, with 1,993 registered vessels, more than 100 seafood processors and just under 300 aquaculture sites.
Top-selling species on the Irish market during the year were salmon and cod whilst Dublin Bay prawn was the top species landed by the Irish fleet.
