The President of the IFA has warned that if a special deal between Ireland the UK cannot be achieved, then Irish meat exports to the UK could fall by 80% and dairy exports could fall by 60%. President Joe Healy told the Oireachtas that he was lobbying across the EU for the best deal for Ireland. However, economist Jim Power warned the same committee that Ireland had received no special concessions for the banks’ bailout and should not rely on ‘goodwill’ from the EU regarding the farming talks.
Dunnes Stores and SuperValu are joint leaders of supermarkets with 22.5% market share as at Dec 4th. Lidl and Aldi both command 11.1% of the market.
Fyffes Banana’s has been sold to a Japanese firm for €751m, ending the Irish McCann’s family 60 year association with the company. Sales in 2015 amounted to €1.2bn with EBITDA of €45.8m. The new buyers – Sumitomo currently imports 30% of all banana’s into Japan.
The food service industry grew to €7.5bn in 2016, a record year. Despite Brexit, that figure is set to increase to €9bn by 2020. Spending in the Republic itself accounted for 72% of the total year, or €5.4bn. The foodservice industry is currently made up of 33,000 individual outlets. Bord Bia reports that 34% of all revenues collected in the sector come from the Quick Service Restaurants, Pubs accounted for 20%, and Hotels came in at 19% of the overall breakdown.
The Irish Creamery Milk Suppliers Association grew by 20% from October 2015 – October 2016. The ICMSA is the 2nd largest farming organisation (the IFA is the largest).
Banks and other lenders have been invited by the Strategic Banking Corporation of Ireland to participate in a new scheme that will loan €150m to farmers at an interest rate of 2.95%. The new scheme aims to allow farmers manage their cashflow better whilst reducing the cost of short term borrowings.
Dunbia have sold their Northern Ireland plant in Ballymena to Cranswick. The rest of Dunbia’s businesses will operate as normal.
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