Speaking at a press conference in Bulgaria today, European Commissioner for Agriculture Phil Hogan dismissed the potential for the conclusion of a Mercosur trade deal this week.

"There will be no deal on Mercosur this week," he told a group of assembled journalists.

Trade talks on the controversial trade deal resumed in Uruguay this week, with rumours that the potential quota of beef on offer to the South American bloc could have increased to just under 100,000t.

Irish and French farmers have stood firm on their refusal to accept any offer that could create an import imbalance, which would have a negative effect on the price of European beef.

Minister for Agriculture Michael Creed has lobbied against an agreement recently, but there is a belief in Brazil that a deal is within reach.

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Murky world of international trade

'Red alert' on Mercosur – EU beef farmers' chair