Milk consumption increased, but supply was insufficient

Published 2020년 9월 9일

Tridge summary

The article reports a 3.1% increase in crude oil consumption in South Korea's second quarter compared to the previous year, reaching 1097,000 tons. This increase was driven by higher production of crude oil and improved milk productivity, as well as active discount sales by oil companies. Despite this, the supply-demand imbalance persists due to a drop in school milk meal consumption and a surge in milk powder stocks, which have increased by 24.1% this year. Factors contributing to the imbalance include improved cow productivity and a rise in dairy imports. The Korea Rural Economic Institute forecasts a growth in crude oil production in the latter half of the year, highlighting the need for efforts to stabilize supply and demand.

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Original content

Consumption volume in the second quarter increased by 3.1% year-on-year. Increased productivity and increased imports lead to a'bumping' supply, intensifying stagnation in the aftermath of the corona... Stabilization of supply and demand Even though the consumption of crude oil at an hourly rate increased, the amount of milk powder stocks rose sharply as it did not reach the supply of crude oil. According to the Korea Rural Economic Institute, crude oil consumption in the second quarter was 1097,000 tons, up 3.1% from the same period last year. As the supply of school milk meals was disrupted by Corona 19, the quantity consumed for school milk meals in the second half was 12,000 tons, down 74.2% from the same period last year. As crude oil that had lost its consumers was overflowing, consumption increased as oil companies actively engaged in discount sales to exhaust them. In fact, the amount of drinking oil purchased per household was 4.3kg, an increase of 2.3% from the same ...

Source: Chuksannews