The South Korean government checks the supply and demand of grain every day while also securing some replacements for the Ukrainian supply

Published 2022년 3월 21일

Tridge summary

South Korea's government is responding to the volatility in the international grain market, caused by Russia's invasion of Ukraine, by tightening regulations and exploring alternative sources. The Ministry of Agriculture, Food and Rural Affairs has implemented a daily inspection system to monitor raw material supplies and demands. The current stock situation shows that domestic feed industry stocks will last until early July for feed wheat and early June for feed corn. However, the starch sugar industry's situation is critical, with edible corn expected to run out by early to mid-May. The government is promoting alternative bidding and considering measures such as lowering the interest rate for feed and food raw material purchase funds and increasing the allocation size for feed grain substitutes. The rice supply and demand situation in South Korea is not concerning, with domestic rice inventory being adequate.

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

Original content

As volatility in the international grain market increases day after day due to Russia's invasion of Ukraine, the government is tightening tensions even more. The Ministry of Agriculture, Food and Rural Affairs held the 'International Grain Supply and Demand Countermeasures Committee' on February 9 and 23 one after another, and from February 28, it operated a daily inspection system with the feed and starch sugar industry to check the supply and demand situation of raw materials such as industry stocks every day. there is. The International Grain Supply and Demand Countermeasures Committee includes relevant ministries such as the Ministry of Strategy and Finance, the Ministry of Oceans and Fisheries, industry associations, the Export-Import Bank of Korea, the Korea Rural Economic Research Institute, and experts. According to the committee, as of early March, stocks in the domestic feed industry are estimated to last until early July for feed wheat and early June for feed ...

Source: Nongmin