The Irish Exporters Association has warned that exporters will resist demands from shipping companies for price rises.

The association's chief executive Mr Colum MacDonnell said P&O Ferrymasters have announced a 15 per cent surcharge on freight originating in the Republic.

The price rise is blamed on the pound's appreciation against sterling, but according to Mr MacDonnell the proposed increase is excessive given that only a percentage of P&O's costs arise in sterling.