Irish farmers' representatives have reacted angrily to a decision by world trade leaders to phase out EU farm export subsidies by 2013.
Delegates attending the World Trade Organisation talks in Hong Kong reached agreement on a new global deal this afternoon.
The President of the IFA, John Dillon, said the deal would destroy one third of Irish farm output and would mean a loss of €800 million to the rural economy.
Speaking in Hong Kong, the ICMSA President, Pat O'Rourke, described the agreement as disastrous for Irish farmers, particularly for the beef and dairy sectors.
The Minister for Agriculture, Mary Coughlan, said it was 'the best possible, achievable deal for Ireland'.
Relief after deal struck in Hong Kong
European Union Trade Commissioner, Peter Mandelson, has described the proposal to phase out the subsidies as acceptable.
Ministers from 149 countries have expressed relief that they had averted a repeat of failed conferences in Seattle in 1999 and in Cancun in 2003.
However the deal had broken down overnight when Brazil, Argentina and others insisted on an earlier date for the end of export subsidies.
Outside the conference venue in Hong Kong, police have reinforced defences to keep protestors away.
They are trying to prevent a repeat of yesterday's disturbances which were led by South Korean farmers opposed to free trade rules.
More than 100 people, including around 40 police officers, were injured in the riots and 900 people were arrested.
