Ms Caroline Bocquel:

The report overall in showing that level of growth masks some of the subtleties in the sector, which we referenced in the narrative in the report. There is no doubt our processors, for example, are experiencing record highs. Some 70% of our processors are dealing with multispecies. They are heavily reliant on imports. They are buying extremely efficiently. They are accessing international markets and actively accessing European markets successfully with some of the most innovative seafood in the world.

On the other hand, we know the other end of the processing sector, the pelagic sector, is having to look at adapting its business model because it will not have the volume. The scientific evidence appears to be heading in the direction that they will struggle to have the volume to have a commodity-led business and moving towards value-added, as Mr. Donnelly spoke about. The whitefish sector is also very challenged at the moment. The scientific advice is not looking fantastic for next year. It is likely that the sector may have to suffer yet more pain, which is extremely unwelcome after the pain it has already suffered on top of Brexit. Our job in BIM is to try to extract as much value as possible. In the whitefish sector, we are working on adding as much value as we possibly can to its catch, ensuring it is sustainably caught. A bit like Deputy Whitmore mentioned earlier with the inshore fleet, we are working to ensure we grow domestic demand for seafood, ensuring inshore seafood is enjoyed in local communities.

The aquaculture sector had a good year in 2024 but it too is cyclical. The aquaculture sector will increase and decrease depending on a number of factors such as stocking rates, whether a fish is at sea and how it has weathered nature and storms, jellyfish or harmful algal blooms. We provide a huge amount of work programme support to mitigate as many of those variables as possible. We are trying to improve the survivability of all species in aquaculture. I spoke about salmon but oysters are also very important to the sector. We are working on ensuring we have good water quality for oysters working across other agencies.

I would not be as utterly despondent. There are good opportunities. There is unprecedented global demand for seafood and it will double by 2050.

Our processors are now becoming extremely adept at their buying, importing, transformation and exportation.