South Korea: Energetic consumption of domestic beans in households

Published 2021년 3월 30일

Tridge summary

The article highlights the significant rise in the wholesale price of domestic white beans in South Korea, with a 24.6% increase compared to the previous year, reaching 6365 won per 1kg, due to decreased production and increased domestic demand. Conversely, imported white beans experienced a 4.0% drop in price to 3904 won per 1kg. This trend is linked to the COVID-19 pandemic's impact on the restaurant industry and consumer preferences towards domestic soybeans, which are perceived as safer due to lower pesticide residues and non-GMO origins. Efforts are being made to boost domestic soybean production to achieve a self-sufficiency rate of 45% by 2030, with proposals to increase the government's promotion budget and create self-funding opportunities. The article also anticipates stable domestic soybean prices in the near future, despite potential limitations on price increases due to the government's inventory release.

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Original content

[Korea Rural Newspaper Reporter Kim Gyeong-wook] Controversy over GMOs and residual pesticides, etc. Safe consumer preferences over imports Increased demand Clearly rising wholesale prices Achieving the goal of self-sufficiency rate of 45% Green light Promotional budget expansion and self-funding It was found that consumption of domestic soybeans in households at an hourly rate is active. It is analyzed that consumers are more sensitive to the safety of'beans' than any other item, such as the GMO (genetically modified agricultural product) controversy. According to the Korea Agricultural and Fishery Food Distribution Corporation's Agricultural Product Distribution Information (aT Kamis), the wholesale price of domestic white beans as of March 1-29 is 6365 won for a 1kg product, a 24.6% increase from last year's 5110 won. On the other hand, during the same period this year, the wholesale price of imported white beans was 3904 won, down 4.0% compared to last year's 4065 won. ...

Source: Agrinet