South Korea: Securing a soybean market and contributing to supply and demand stability through a contract cultivation project

Published 2021년 9월 10일

Tridge summary

The South Korean government has launched the Bean Contract Cultivation Project to address the food security crisis caused by extreme weather and infectious diseases, and the fluctuating supply and demand of soybeans. The project, which has received positive feedback from farmers and related companies, aims to handle 10% of the country's total domestic soybean production this year. Farmers and processing companies will receive interest-free loans to connect consumers and suppliers. However, stakeholders have highlighted the need for improved support, including adjusting the contract period, covering seed and fertilizer costs, and including Seoritae in the target items. The government also plans to increase the soybean purchase price and provide 50% of the cost of selecting soybeans for contract cultivation next year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Government, pulse contract cultivation business site Introduced this year to reduce food security crisis, handling 10% of total production Order with Seoritae included in the target item “As a farmer, I am very satisfied because I can focus on production without worrying about the market. However, if the contract period is advanced and the amount of deposit (advance payment) is increased, it seems that the case of canceling the contract by weighing the market price will disappear.” A bean field in Nongam-myeon, Mungyeong-si, Gyeongsangbuk-do on the 3rd. Farmer Shin Yong-ho (62, Hwasan-ri) went through soybean leaves and stems that had grown to the waist, and looked around at the growth of bean pods hanging from the bottom. Shin, who grows 23,100 square meters (7,000 pyeong) of soybeans as a double crop after grinding spring cabbage, expressed his hopes for the 'Bean Contract Cultivation Project'. Shin said, "Actually, since the Agricultural Cooperatives have been doing ...

Source: Nongmin