Creed acknowledges that new markets are key but we cannot forget U.K.


Creed acknowledges that new markets are key but we cannot forget U.K.

Creed acknowledges that new markets are key but we cannot forget U.K.

  • ADDED
  • 3 years ago

Creed acknowledges that new markets are key but we cannot forget U.K.

Michael Creed T.D. Minister of Agriculture, Food and the Marine has announced a further €6.745 of funding for Bord Bia in 2017.

The additional activities will be tailored to support the Agricultural and food industry and address any market challenges that are resulting following Brexit.

He revealed how this recent funding allocation comes following the consultation of 139 food, drink and horticulture companies through data obtained from their Bord Bia Brexit barometers.

The fund is set to go towards market prioritisation, market promotion and research and education, with additional courses for various estate agencies including Bord Bia and the two-year Masters in Insight and Innovation degree in NUI Maynooth.

Measures have been implemented in a ‘‘focused and strategic way’’ Creed said when speaking with Sean O’Rourke on RTE Radio 1 earlier this morning

Markets

Michael Creed T.D. told O’Rourke that he is working alongside his department and they are ‘‘tackling all issues as they arise.’’

‘‘The U.K. is a hugely important market for us. Supermarket shelves that stock our product have been hard won over many years.// I am not sure if the U.K. consumer is willing to walk away from the standards that they have become accustomed to.// The U.K. will always be an important market for us. ’’ Creed told O’Rourke.

Trade

The identification of new market opportunities particularly outside the U.K. will remain one key area of focus.

Commenting on Ireland’s trading with the U.K. creed commented on the current market difficulties, but in respect to that revealed how the UK is ‘‘the best paying for beef.’

Creed stressed that ‘‘geography is a prime determinate in trade.’’

When speaking about the importance of market diversification, Creed touched on new approaching potential deals.

He drew attention to the recent visitation of a Chinese delegation in the last number of weeks, in order to examine Irish beef processing plants.

Creed revealed how he will go on a trade mission to Japan and Korea later this year.

He believes that potential exists in the Beef, sheep and pig-meat sectors, which will prove to be beneficial in terms of tapping further into these available markets.

He has also expanded his interest into the Horticultural sector.

Currency

Creed acknowledged the difficulties surrounding the currency, in particular the falling currency.

‘‘It has moved significantly to our disadvantage.’’ Creed said.

Creed highlighted the accessibility of low-cost affordable finance for the food industry and small food business, following the success of €150 million loan low-cost finance for primary producers last year.

The Minister described this action as ‘‘critical’’.

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