Limerick TD Richard O'Donoghue says it's time for the government to 'wake up'.
Independent Ireland (II) has described an admission by the European Union’s Trade Commissioner Maroš Šefčovič as a "bombshell".
The party is concerned that Irish beef prices could drop by an alarming 45% inside five years under the Mercosur Deal.
Under the draft deal's terms, beef from Mercosur states—Brazil, Argentina, Paraguay, and Uruguay—would be granted significant tariff-free access to the EU market.
Independent Ireland General Secretary and local TD Richard O’Donoghue stated that the Commissioner admitted that the Mercosur Deal allows beef prices to fall by up to 10% per cent annually before safeguards kick in.
He warned that this means a 9% drop in beef prices could happen for the next five years, and the EU "would do nothing about it".
Mr O’Donoghue said: "Under this trade deal the price of beef could drop by almost half while South American beef would be allowed to flood the market".
He called on the Government to "wake up before it’s too late, because if this deal goes through, the industry will be decimated".
Independent Ireland MEP Ciaran Mullooly added: “Irish farmers are now being told that prices can collapse year-on-year before any so-called safety net is applied — that is not protection, it is surrender”.
