Langoustines are worth more than mackerel as Ireland's fishing quotas are slashed following Brexit

In 2022, the value of Irish langoustines exports surpassed mackerel for the first time to become the country's most commercially valuable seafood species.

According to a report by Bord Iascaigh Mhara, Ireland's national seafood development agency, about 6,200 tons of langoustines were produced in 2022, worth 82 million euros, a 53% increase over last year, mainly due to a sharp increase in langoustines market prices.

For the whole of 2022, Ireland's seafood exports totaled about 293,000 tonnes, down 13% from the previous year, mainly due to reduced quotas for mackerel, bluefish and other seafood after Brexit.

According to Killybegs Fishermen's Organisation (KFO), a local fishermen's association, Brexit will cut Ireland's mackerel quota by 26%. In 2022 alone, more than 12,000 tonnes of mackerel will be cut, worth more than 18 million euros. In addition, Ireland's langoustine quota has been cut by 14% due to Brexit.

Europe's Brexit adjustment Reserve Fund (BAR) is said to be in place, partly to provide financial support to fishermen in the ocean fishing industry. So far, however, Irish fishermen have not received the money.

Sean O'Donoghue, CEO of KFO, said: "The government relief for our members has not been distributed. We are behind our EU counterparts and our biggest concern is that if the money is not distributed by the end of the year, it may be returned to Europe. This would be a shocking outcome and we call on Irish ministers to take the most urgent action on this matter. No business can afford to lose on this scale."