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80% of Irish exporters believe UK still offers significant potential

Written by Robert McHugh, on 29th Jun 2017. Posted in Agriculture

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A new report launched by Bord Bia today shows a renewed optimism for the Irish food and drink industry’s trading relationship with the UK market, worth over €4 billion last year. 

According to Bord Bia’s Brexit Barometer, almost 80% exporters surveyed believe there is still significant potential for future growth in the UK market, despite the fact that 85% of respondents are facing competition from UK based suppliers and 61% don’t have a marketing strategy for the market.
 
Over 80% of respondents believe there are viable alternative markets for their products however sectors such as beef and cheddar cheese will be challenged to find replacement markets. 
 
Exporters with short shelf life products are most at risk, with the mushroom industry facing the greatest challenge, as the sector’s main product has a shelf like of less than 7 days. Likewise, beef mince is challenged due to the complex and intensive supply chain.
 
The report finds that implementation of new customs controls and potential tariffs is clearly the greatest concern. Overall, there is a lack of understanding in terms of customs compliance and potential tariff costs, with limited customs expertise within the industry.
 
Speaking today, CEO Bord Bia, Tara McCarthy said, "Brexit will demand a nuanced and concerted response from every level of the food industry. It will require new skills, new approaches and new thinking. We will need to be innovative, agile, informed and prepared as never before."

Source: www.businessworld.ie

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