Fish and Seafood sector

During 2023 the value of pelagic exports declined by an estimated 31% to €125 million, reflecting a drop of 45% in volumes compared with 2022. 

The value of salmon exports declined by 19% to €75 million, reflecting a reduction of over 30% in volume. Salmon exports were adversely affected by biological issues in 2022, which impacted on export volumes in 2023. However, demand and prices remained firm.

The fall in pelagic exports was due in part to another cut of 5% in the mackerel quota because of the Trade and Cooperation Agreement (TCA) a declining quota for horse mackerel and a reduction in foreign landings. UK vessels are now required to land 50% of their catch into UK ports which leaves less volume for Irish processors to access.

Shellfish exports were stable in volume and back 7% in value reflecting a slight weakening in unit prices, especially for higher value species due to the ongoing cost-of-living crisis across key export markets.

Exports of value-added seafood products were slightly lower at €115 million but remain over 15% ahead of 2021 levels. We see this as a pause in the trend of recent years where there has been strong growth in value-added products, such as consumer-ready, cooked, ready to cook/ready to eat or  smoked seafood products.

The core region for value-added seafood exports is the EU 27 which accounts for more than 70% of value-added exports. The UK market accounts for an estimated 16% of exports in this category and showed strong value and volume growth during 2023. Exports of value-added seafood to Asia fell  during the year. However, the industry is investing heavily in value-added propositions through utilisation of the Brexit Adjustment Reserve (BAR) fund, and we expect value-added seafood exports to resume their growth in 2024 and beyond.

Whitefish exports were ahead in value at an estimated €50 million reflecting higher volumes offsetting weaker unit prices in key export destinations.