Bord Bia CEO expresses ‘cautious optimism’ for 2026
The chief executive of Bord Bia, Jim O'Toole has today (Wednesday, January 7) expressed cautious optimism regarding Ireland's agri-food industry for 2026.
The CEO spoke to Agriland at the publication of the Bord Bia Export Performance and Prospect Report 2025/2026 where he discussed international competition, and how Ireland can prepare for what happens with the EU-Mercosur trade agreement.
Food and drink exports reached a record €19 billion despite “a year of exceptional volatility”.
However, O’Toole is positive overall about 2026.
“The report aligns closely with my own view, which is cautious optimism,” he said.
“I think one thing we’ve seen in the report is that the degree of optimism has come back from what it was last year [2025].
“We’ve seen positive things happening this [past] year in terms of perfect grass growing season, which helped with dairy output, for example. And we’ve seen very strong prices for beef, which is very welcome.
“So, you can see that despite there being cost inflation pressures and demand in other markets, output grew significantly in 2025.”
Challenges
The report outlines challenges of the past year, including disruptive world events, extreme weather, and tariffs on trade with the US.
“I think we’ve weathered, for now, the tariff environment in the US but we’ve seen moves in China,” O’Toole continued.
“So free trade is less free than it was previously. For a small open economy, that’s something to be cautious about.
“But I think it's important [to emphasise] that we have strong brands, a fantastic offer in terms of quality, we’ve built great relationships in premium markets.
“So there are a lot of things to build on.”
He acknowledged that it “will be maybe harder work” this year. “But that’s not to take away from the brilliant performance we’ve enjoyed in 2025,” he said.
Competitors
The phrase “punching above our weight” was used during the Bord Bia presentation, and positive export numbers were frequently cited.
Competition, however, was also a consistent theme.
“We’re announcing strong results and all competitors are going to ask if they can get a bit of that action,” O’Toole said.
“We’ve also seen how there’s pressure on consumers and their ability to spend, so they’re weighing up choices and value for money in terms of sustainability, nutrition and convenience.
“We’ve made progress, but every country we go into we’re facing local product, from the dairy side we’re seeing how it’s a global market – so increased production in the United States in cheese for instance. There’s more milk coming from southern hemisphere,” he added.
O’Toole also mentioned trade deals the UK has made, giving access for beef into the UK from Australia and New Zealand.
“We have a strong position in the UK market, but we’re going to be exposed to that competition,” he said.
O’Toole said that international trade shows are a regular reminder of how immense the competition can be.
“It’s always a salutary experience for me when we go to trade shows,” he said. “In a couple of weeks we’ll be going to Gulf Food in Dubai.
“You see enormous stands in hall after hall [at these events], nearly every one a competitor.
“So that always brings it home to me in terms of it being a tough marketplace.”
Mercosur
When asked about the EU-Mercosur trade agreement, O’Toole admits “it’s a sensitive subject”.
“It’s a very significant threat for farmers, and I can understand why people are seeing it as such,” he said.
“One thing we have in our back pocket is not only the relationships that we’ve developed over decades but the quality of our products.”
He added: “We have systems, we have standards, and we have tens of thousands of farmers that are participating in those standards and meeting them.
"We have a sustainable offer, and that is what has helped us build our reputation and helped us build our position in marketplaces.
“That will be our greatest defence against some of this potential competition and I think we shouldn’t lose sight of that.”
