South Korea: Egg prices skyrocket as Avian Influenza spreads and the government imports 50,000 tons of duty-free imports by the end of June

[Sejong = Newspim] Reporter Choi On-jung = The government has decided to import 8 items, including fresh eggs and processed egg products, up to 50,000 tons (t) without tariff. This is because egg prices are soaring due to the recent outbreak of avian influenza (AI) in Korea. Other livestock products, such as beef and pork, will be inspected every day to ensure a smooth supply during the Lunar New Year holidays. On the 20th, the government held the '27th Emergency Economic Central Countermeasure Headquarters (economic heavy script) meeting' presided by Hong Nam-ki and Minister of Strategy and Finance, and decided on measures to stabilize the supply and demand of livestock products such as eggs. First, the government decided to apply an emergency quota tariff of 0% by the end of June on eight items, including fresh eggs, processed egg products, smoked eggs, and yolk meal, with a basic tariff of 8-30%. The quota tariff is a system that allows the tariff rate of imported goods to be ...