Investment of £60 million over the next five years in Irish fish farming will yield increased exports and generate more employment in peripheral coastal areas, a consultancy study has found.
Any "obstacles" to investment should be immediately addressed by the State to allow the industry to expand by 300 per cent to a projected value of £450 million in 15 years and to compete in international markets, the study by the Circa group of consultants said.
The report was presented to the Taoiseach, Mr Ahern, yesterday by the Minister of State for the Marine and Natural Resources, Mr Hugh Byrne, and has been welcomed by the fish farming sector.
The study, commissioned by Mr Byrne, said that the time for expansion was "particularly opportune". The market demand was good, the National Development Plan had earmarked an "excellent" financial support package of £25 million, and producers had indicated that they could match State aids.
It warns that if the industry does not expand now - to an ambitious output target of 150,000 tonnes by 2015, at a projected value of around £450 million - it will "remain marginal" in comparison with international competitors and will fail to produce the profits necessary to sustain itself in the long term. It is currently producing 39,000 tonnes annually at a value of £59 million.
The study said that expansion in output must be market-led, but notes that consumer trends are changing rapidly.
Recent market studies have found that only 2 per cent of European consumers are now comfortable with the idea of buying a whole fish to cook.
Most customers want "high quality products" that are quick and easy to use and require little specialist knowledge in preparation - that is, they don't want to need to know how to cook.
The study also recommends substantial investment in processing.
Welcoming the report, Mr Byrne said the £25 million allocated in the National Development Plan over the next six years would be used to trigger the necessary investment.
Worldwide demand for seafood would increase, and Ireland's fish farming industry should avail of the opportunities, he said.
The farmed salmon and shellfish sectors, represented by the Irish Salmon Growers' Association and Irish Shellfish Association, have endorsed the study, which was carried out in conjunction with the Minister's department, Bord Iascaigh Mhara, the Marine Institute, Udaras na Gaeltachta and the industry itself.
