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Egypt has the potential to become Ireland’s most important non-EU destination for beef, although the trade may not reach the lofty heights it did 17 years ago.
The re-opening of the market has been announced.
The country accounted for 100,000t of beef worth €300m in 2000 but, at that time, Irish exports were eligible for substantial export subsidy which made them very competitive.
Today, Irish beef faces stiff competition from South American exports and in particular Brazil, which supplied 153,800t to Egypt in 2015.
Egypt’s reopening is another string to the Irish bow, adding to markets such as the Philippines and Hong Kong, which opened to Irish beef in recent years and were the largest-volume non-EU export markets for Irish beef in 2016.
Its entry into the market, taking 15,000t each, resulted in a good clear-out of cold stores of lower-value manufacturing beef.
Minister for Agriculture Michael Creed said that the search for new third country markets was a top priority for his department and had taken on an added urgency in the context of the challenges posed by Brexit.
In 2016, Irish access to the US market was extended, while Canadian, New Zealand and Israeli beef markets opened up.
What beef price is needed to deliver €200 a cow in a suckler finishing system?
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