EU ministers have agreed a new set of fishing quotas
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Fishing industry leaders are predicting a sharp reduction in the Northern Ireland fleet following the annual negotiations in Brussels on catches.
NI fisheries minister Lord Rooker, who was widely criticised for not attending the talks, said it was "disappointing".
Fish Producers Organisation spokesman Dick James warned 12 to 15 boats in the NI fleet could go out of business.
"We're not pleased with the lack of representation we had, and I think the result reflects that," he said.
"We think the reduction in days and the reduction in quota is basically going to mean that, conservatively, we're going to see through this year a reduction in the fleet of some 10%."
Lord Rooker said the result was "obviously better than what the eurocrats in Brussels would have forced upon us if they'd had their way".
"It is disappointing but in all the circumstances it is the best that could be obtained," he added.
Lord Rooker faced criticism over his non-attendance at the meeting
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"If Northern Ireland wants to have full-time ministers in every department, then the politicians know what they have to do - it's as simple as that."
Reductions to Irish Sea cod and other whitefish quotas agreed at the Brussels talks will seriously affect the whitefish fleet in 2006.
However, prawn quotas on the Northern Ireland fleet's main fishing grounds will increase, as will the Irish Sea plaice quotas.
Ulster Unionist MEP Jim Nicholson described the decision as a "bad" one for Northern Ireland's fishermen.
"Once again they have suffered because of a late night council meeting," he said.
"I have listened to Lord Rooker's comments but the truth of the matter is, he is the minister responsible for fisheries in Northern Ireland.
"He should have been there and his absence was a total and utter disgrace. We will never know whether his presence would have made a difference."
DUP MEP Jim Allister said the Irish Sea was the only part of UK waters to "suffer an overall cut" in the value of its permitted catch.
"This means a cut in income
for our fishermen. Well done Lord Rooker. By not caring enough to even go
to Brussels you let down those you are supposed to represent.
"I agree with colleagues that he
should go."