The Health Service Executive (HSE) is to consider the study by the World Health Organisation (WHO) – which classifies processed and red meats as 'carcinogenic to humans'.
It says there is a clear link between eating too much processed meat and bowel cancer and that red meat is a likely cause of some cancers.
IFA president, Eddie Downey, says advisories have been issued about other foods in the past that have since been reversed.
“It's a hugely important industry to us – but I think if we manage it right, don't have an over-reaction to it and let's see how it runs out” he said.
“Remember butter a few years ago, we were told it was bad for you – and butter sales collapsed, milk prices collapsed, and now they tell us that butter is good for us”.
“That's the same people making the same statements” he added.
The Department of Health is moving to allay fears over the possible link between certain meats – and cancer.
It comes after the World Health Organisation classified processed and red meats as 'carcinogenic to humans'.
In a statement this afternoon, the Department of Health says meat is an important source of protein, iron and vitamins – and that the most important goal is to try to eat a balanced diet.
It says it's reviewing the Healthy Eating Guidelines – with new ones due to be issued by the end of this year.
The WHO findings have been sent to an expert group for consideration.