Business Booming at Bord Bia’s Marketplace 2015
The prospects for major business deals emerging from Marketplace 2015 have been greatly enhanced by the euro’s recent depreciation, according to Bord Bia’s Chief Executive Aidan Cotter (pictured right). Speaking at the Convention Centre Dublin on Thursday, March 26, Mr. Cotter said: “Some 300, or 75%, of the overseas buyers in Ireland this week are from outside the eurozone, with their buying power boosted by the strength of sterling and the dollar, up 12% and 20% respectively against the euro compared with a year earlier. Combined with the lifting of milk quotas and the opening of the Chinese and US beef markets, the opportunity presented by Marketplace could not have come at a better time.”
Over 500 food buyers from all around the world gathered in Dublin for Bord Bia’s fifth Marketplace event. The buyers, who travelled from over 34 countries, met with 185 Irish food and drink companies, ranging in size and profile from small enterprises to multinationals through a series of over 5,000 pre-scheduled ‘speed-dating’ style meetings. Opening the event, the Minister of Agriculture, Food and the Marine, Simon Coveney TD welcomed the overseas buyers saying: “Through your visits earlier this week, many of you will have seen how this is an industry where world-class commitments to quality and food safety are routine. From dairy, meat, ingredients and consumer foods to beverages, bakery, seafood and speciality foods – we share a commitment to produce food in a sustainable manner, supported by the world-class science and innovation.”
In his address, Michael Carey, Chairman of Bord Bia referred to Marketplace as “a truly global, and even historic, event. This is the largest trade event ever run by Bord Bia, with over 530 buyers attending from 34 countries around the world. We have more than 100 buyers attending from Asia alone, and our guests from China represent the single largest trade delegation from that country ever to visit Ireland,” he said.
Mr. Carey also highlighted the importance of the agri-food industry adding: “Food and drink is Ireland’s oldest and largest indigenous industry and our fastest growing export sector. Last year, Irish food and drink exports were worth over €10.5 billion and we are confident the industry will enjoy continued growth in the years ahead.”
In addition to a strong representation of UK and European buyers, 106 Asian buyers travelled to attend the event, compared to just 14 in 2012 when Bord Bia last held a Marketplace event. Meanwhile, 38 buyers from the Middle East attended; 24 from North America; 15 from Africa and 12 from Russia. According to Bord Bia, there was a significant shift in the destinations for Irish exports in 2014 with international markets showing renewed growth, reflected in a 16% increase in trade to stand at €3 billion or 29% of Ireland’s total food and drink exports.
Origin Green – Global Platform
During a lunchtime address, Aidan Cotter briefed delegates on how Bord Bia’s innovative sustainability programme is underpinning Ireland’s green image. “Marketplace 2015 also marks a new milestone in the progress of the industry’s unique sustainability journey. All 185 Irish companies are participating under Origin Green branding and are publicly promoting their commitments under the programme. Some 80% of Ireland’s food and drink exports are now coming from Origin Green member companies, 90% of beef exports are from farms audited and carbon footprinted under the programme while it is estimated that 95% of milk will be sourced from Origin Green dairy farms by the end of this year,” he said.
Bord Bia’s Origin Green programme sets out Ireland’s ambition to become a world leader in the delivery of sustainable, high-quality food and drink products. The programme is the first of its kind to be rolled out on a nationwide scale and Bord Bia believes it will be key in setting Irish food and drink exporters apart from their competitors. Almost three years since it launched, over 430 Irish food and drink companies, accounting for 90% of exports, have registered with the programme. Bord Bia has also undertaken more than 70,000 carbon assessments on Irish farms, with a current weekly average of 700 farms per week.
Next Steps
Bord Bia, in conjunction with the Irish food and drink industry, has put a rigorous follow up plan in place to assist companies convert the opportunities arising from today’s event to real, tangible business. ‘Follow Up’ sessions will take place in two weeks and again in early May.
