The 10.26kg (22.6lb) of drugs were discovered hidden in a car that arrived at Rosslare Europort on a ferry from France.
Officers from Revenue's customs division and sniffer dog Ralph searched the Mercedes Jeep after an X-ray scanner at customs flagged up an anomaly.
A Dutch man in his 60s was arrested in connection with the discovery and will be taken to Wexford Garda Station.
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