Farmers in the United Kingdom are hoping assurances they received during the Brexit debate about their generous subsidies will hold now the UK has voted to leave the European Union.

On average, Europe's Common Agricultural Policy ensures half of some farmers' annual income could come from subsidies, although the actual value depends on the Euro-Pound exchange rate.

Farmers are concerned a drop in the subsidy could see them become less competitive than their counterparts in Europe.

Belfast-based freelance agriculture reporter Chris McCullogh said the campaign for leaving the EU did give some assurances about the subsidies, but days after the referendum agriculture hasn't featured prominently in the national debate.

"Before the referendum, before the vote, farmers were being told by the leave campaign, 'don't worry, there will be a replacement, the money we're sending to Brussels will be in a pot and distributed to farmers, the National Health Service and education'.

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"But since we've known the outcome on Friday, nothing has been announced, at the minute we're having a political meltdown, and we don't know who'll be in power tomorrow."

Almost a third of the UK's farmers are tenant farmers, and the Tenant Famers Association's CEO George Dunn, who voted to remain in the EU, said the industry needed a steady hand through the turbulent period ahead.

"We need to have wisdom and diplomacy, so we both have a successful from the EU, and to create the necessary structures to ensure our industry has the ability to continue to compete in a world market."

But Mr McCullogh said there might be some upside for farmers from leaving the EU, with the chance to strip back what many believe is excessive regulation and red tape imposed by EU bureaucrats.

"For example, you can't bury a dead animal on your property, you need to get a special permit and pay over £100 [$181] for someone to come and take away the cow.

"This one size fits all approach is what the farmers are concerned about, that it's not the same rules universally, and there's too much red tape, too much paperwork and too much hassle from Brussels."

Under EU rules, the UK can have two years to negotiate an exit from the Union.