Tridge summary
South Korea has launched onion and garlic duty funds, making them the first vegetable items to have such a fund. The funds aim to address the annual supply and demand instability of vegetables. The Ministry of Agriculture, Food and Rural Affairs has agreed to establish the compulsory fund, with support from farmers, agricultural management organizations, and agricultural cooperatives. The government will fund the amount raised by farmers. These compulsory self-government organizations will promote supply and demand stabilization, research and development, and export promotion. However, challenges such as calculating appropriate payments, establishing a self-help subsidy management organization, and preventing free-ride farms have emerged. The government will provide observation information and support the supply and demand adjustment function of the compulsory fund groups.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Onion and garlic duty funds were officially launched. It is the first time as a vegetable. Interest is focused on whether it will be an institutional mechanism that fundamentally solves the annual supply and demand instability of vegetables. The Ministry of Agriculture, Food and Rural Affairs said that on the 23rd and 24th, representatives from the onion and garlic compulsory funding group voted for and agreed to install the compulsory fund. It has been only a year since President Moon Jae-in has ordered measures to stabilize vegetable prices since the onion and garlic prices plunged last year. Introduction of mandatory subsidies Agricultural products increased to 14 items including ginseng, eco-friendly, lily, kiwi, pear, paprika, apple, tangerine, bean sprouts, melon, cut flowers and grapes. Compulsory subsidy is a subsidy that is established by using the funds paid by farmers, agricultural management organizations, and agricultural cooperatives as the main resources. The ...
Source: Nongmin
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