The Korean Beef association has demand the government and agricultural cooperatives to prepare survival measures to stabilize cattle prices in South Korea

Published Dec 27, 2022

Tridge summary

The Korean Beef Association is calling for urgent action from the government and Nonghyup to stabilize cattle prices due to a significant decrease in beef prices and a surge in feed prices by over 60%. The association warns of a potential crisis in the industry as farms are struggling to cover production costs, leading to bankruptcies. They have proposed measures such as price management, feed price support, and direct price stabilization to address the issue. They also suggest linking wholesale beef prices to consumer prices and increasing government support for marketing and consumption promotion.

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

Original content

Korean Beef Association The National Korean Beef Association has demanded that the government and Nonghyup immediately implement survival measures such as purchasing and supporting the difference in feed price increase to stabilize cattle prices. On the 23rd, the Korean Beef Association released a statement titled, “The government and Nonghyup must immediately implement survival measures for stabilizing cattle prices.” demanded remedies. The Korean Beef Association raised its voice in a statement saying that Korean cattle farmers are being pushed to the edge of a cliff due to plunging Korean beef prices day after day and feed prices skyrocketing by more than 60% without any sharp countermeasures despite farmhouse-level self-rescue efforts. In addition, he sharply criticized the current situation, saying, “Cows are eating cows,” saying that a steady stream of farmhouses went bankrupt due to farms unable to even pay for production costs. The Korean Beef Association once again ...

Source: Aflnews