The export market of food and drink has flourished suddenly with steep hike of growth in first quarter of 2107 in UK. The record for export of UK has shown highest figure ever in the first quarter of 2017.The export has increased by volume as well as the value. On average, the export market of UK shows the growth of 8.3% on year to year. But, in the first quarter of this year, the export of food and drink has crossed all records.
Creation of export market of UK
The drink market is actually boosted up by whisky. In the view of worldwide economy, UK is the fifth ranking country. In 2016, UK was in tenth position in respect of export market. But suddenly, in first quarter of 2017, boom was created in the food and drink export .UK export market shows the sudden growth of export in first quarter in 2017. FDF or food and drink federation plays vital role in UK. It takes the interest of communication of value of foods of UK to the audiences to create proper market. FDF is provided the credit for better promotion of UK foods to abroad. The audiences are Department of health, Food and rural affairs, department of business, media, and consumers.
Financial status of UK
There are more than 130,000 numbers of suppliers to make efforts for export. The growth of export in first quarter of 2017 is mainly due to the food and nonalcoholic drink exports.UK economy is dominated by the service sector. 78% of GDP or gross direct product contributes to the service sector which is responsible for the financial growth of UK through exports. London is treated as the largest international centre.
This has been observed that 97 % of food and drinks market for UK export is facing some risks. Though in the current financial year, export market for canned drink products has risen sharply. The government targeted to enhance the export market for canned drinks from 2016. Export market has shown growth in the current fiscal year due to the sharp rise of demands of canned drinks in export market.
Whiskey remains at the top
The item remained at the top of export market of UK is whiskey. Scottish salmon is in the second position while chocolate is in the third position. So, the top three products are whiskey, Scottish salmon and chocolate. Due to the proper attractions of the audiences in the export market, the growth of export can be achieved by UK sufficiently. So, whiskey remained at the top position for export market. So, to achieve the sustainability in the export market, proper attention has to be taken of the food supplied. To maintain the proper market and the similar status in the export market, proper quality of the food should be maintained. Top three export destinations are Ireland, France and United states in respect of overall values. All positive signs for food export from UK are shown from 20 markets except Spain.
Exports for salman have revealed the highest growth in the Q1 2017.The volume of salmon also has revealed 13.8 % growth. The export got supported due to the fall of pound. The export market has shown positive trend in South Korea, Belgium, and South Africa. In the export of South Korea, beer was the main factor to exhibit the positive growth. For the export growth in Belgium, wheat and barley are remaining as key factors. South Africa accepted animals feed with the rising exports. So, different food items are capturing the export market of UK. So, the emphasis should be given to key items to maintain consistency in the export market.