London / UK. (fdf) The latest export figures from the British Food and Drink Federation (FDF) show that the value of branded food and non-alcoholic drink exports rose to 2.4 billion GBP in the first half of 2016, an increase of 141.2 million GBP (plus 6.2 percent) when compared to the same period in 2015.
Branded exports to non-European Union (EU) nations rose by 93.7 million GBP (plus 14 percent) on H1 figures from 2015, while exports to the EU also increased by 47.5 million GBP (plus 2.9 percent). Exports to non-EU nations now represent 31.4 percent of all branded exports, up 2.2 percentage points on H1 of 2015.
Total exports of food and non-alcoholic drink grew by 528.3 million GBP (plus 8.7 percent) to 6.6 billion GBP, between H1 of 2015 and H1 of 2016, following a fall in overall exports in 2015, the first in ten years.
A weaker pound at the start of 2016 meant UK exports were competitive in the first half of the year. With the price of the pound falling further since the end of June 2016, following the EU referendum result, it is expected there will be a further rise in exports before the end of the year.
The three export markets which saw the greatest value growth from H1 of 2015 to H1 of 2016 were Malaysia, up 46.9 million GBP (plus 268.5 percent), China, up 24.1 million GBP (plus 100.9 percent) and the United States, up 21.1 million GBP (plus 31.6 percent).
Ireland, Germany and the Netherlands made up the top three export destinations for branded UK food and non-alcoholic drink, with exports to the value of 598 million GBP (plus 1.2 percent), 228.6 million GBP (plus 7.6 percent) and 196.6 million GBP (minus 1 percent) respectively.
The top three product categories were chocolate, salmon and wheat, with exports of vegetables, both prepared and fresh, experiencing the largest value growth, up 27.7 million GBP (plus 17.9 percent) in H1 of 2016, when compared with H1 of 2015.
FDF has set an ambition to grow value-added food and drink exports by a third to achieve a total value of 6 billion GBP by 2020. The «Exports – Five Steps to Food and Drink Exporting Success» guide, developed by FDF and the Food and Drink Exporters Association (FDEA), was recently launched as part of an enhanced partnership aiming to help more of Britain’s 6’500 manufacturers to export.
Ian Wright CBE, Director General, FDF, said: «Following a weaker performance in 2015, the growth of value added exports we’ve seen in H1 is excellent news for our industry and a positive step toward achieving FDF’s export ambition. It’s also very pleasing to see non-EU exports performing beyond expectations, with UK firms taking advantage of increased competitiveness. We eagerly await the launch of DEFRA’s export plan to see how government intends on supporting our industry overseas in a time of prospective economic uncertainty».
Elsa Fairbanks, Director at Food and Drink Exporters Association (FDEA), said: «FDEA is very encouraged by the improved export performance for the first half of 2016 which reflects the commitment that many food and drink companies are making to grow the international side of their business. A significant number of our members are reporting that their export customers are now proving to be a vital part of a thriving business».
OTHER TOPICS FROM THIS SECTION FOR YOU:
- Tender Food: successfully closes Series A funding
- Aramark: now lets autonomous floor cleaning robots do the work
- Santander Bank: opens another »Work Café« in Florida
- Ülker: accelerates digitalization and tech investments
- Enifer Oyi: secures 36 million euro funding package
- Coop: Tomatoes from Sweden no longer a rarity
- Fossil-free transport: ICA takes a step forward with hydrogen gas
- Lantmännen Group: in talks on Food Strategy 2.0
- Växthuset: Business-driven and circular ideas in focus
- BBU: Commences Multi-Site Microgrid Energy System
- Chipotle: Doubles Commitment To Cultivate Next Venture Fund
- Bühler: brings the entire protein value chain under one roof
- Oterra A/S: forms pioneering partnership with Vaxa Technologies
- Conagra Brands: Uncovers Hottest Frozen Food Trends
- Kroger: CIO Discusses Digital Innovation Trends 2024
- What’s on the menu? RaboResearch Outlook 2024
- Fazer: promotes green transition with renewable gas
- Bakery bites U.S.: Looking back and looking ahead
- Walmart: Offers a Glimpse into the Future of Retail
- Enifer: secures 12 million Euro grant to build first factory