South Korea: Pig farms' feed price surges blow, we need to increase support for purchasing funds

As the poor management of pig farms due to the increase in feed prices showed signs of prolonged deterioration, experts began to prepare countermeasures. The Korea Handidog Association recently held the ‘1st Task Force Meeting to Response to Soaring Grain Price’ at the 2nd Livestock Center in Seocho-gu, Seoul. The event was attended by officials from the Ministry of Agriculture, Food and Rural Affairs, industry, and the Korea Rural Economic Research Institute. At the meeting, it was pointed out that the scope of support for the purchase of feed for farms should be expanded first. To this end, it is argued that farmers need to breathe by increasing the limit of special guarantee of the Agriculture, Forestry and Fisheries Credit Guarantee Fund (Nongshinbo), reducing the interest rate on feed purchase funds, and extending the repayment period of feed purchase funds. Some argued that stock rice should be used as a raw material to replace corn, which has skyrocketed in price. ...