I am very concerned about the downturn in the international market for mackerel. This trend had become evident over the latter part of last year.
A major factor in the decline of the market has been the scaling down of klondyking operations by Eastern European countries arising out of political and economic changes in those countries. This has brought about a situation where the reduced number of klondykers still operating, in an effort to acquire hard currencies, are selling significant tonnage in the Danish and German markets at very low prices, thus affecting Irish sales in these important markets. Further marketing difficulties are being experienced in Nigeria, where sales have been hampered by the depreciation of the US dollar and a shortage of foreign currency.