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75% of Irish food and drink companies fear recession prompted by Covid 19

Written by Robert McHugh, on 3rd Jul 2020. Posted in Agriculture

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Bord Bia yesterday launched its Readiness Radar Report in the RDS virtual events studio. A total of 128 Irish food, drink and horticulture companies, representing 51% of total exports, took part in the survey over a four week period in March and April this year.
 
The report reveals that 75% of Irish food and drink businesses fear a recession prompted by Covid 19, while 71% of companies are actively seeking to expand into new markets in response to Brexit. 
 
The estimated value of food, drink and horticulture exports from Ireland for 2019 was €13 billion, capping a decade of growth where the value of Irish food and drink exports increased by 67%. 
 
Industry panelists Tara McCarthy (CEO at Bord Bia), John Jordan (CEO at Ornua), Catherine Neilson (Director of Strategy at Kerry Group) and Niall Browne (CEO of Dawn Meats) discussed the report findings in depth. 

Commenting at the event, Tara McCarthy said, "The current scenario posed by Brexit and Covid 19 reinforce the impetus behind overcoming any obstacles presented by export market diversification. Our whole organisation is reimagining how it can best respond and position Irish food and drink for growth post Covid 19."

Source: www.businessworld.ie

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