Ministry of Agriculture and Food signed a business agreement to stimulate domestic wheat consumption in South Korea

Published 2021년 12월 23일

Tridge summary

The iCOOP Consumer Life Cooperative Federation, together with the Ministry of Agriculture, Food and Rural Affairs, the Domestic Wheat Industry Association, and SPC Samlip, have entered into a partnership to boost domestic wheat consumption and provide a stable market for farmers. The agreement, which initially involves purchasing 5,000 tons of domestic wheat this year, aims to increase purchases annually by 250 tons until 2025. The partnership also plans to develop competitive domestic wheat products and support the continuous growth of the domestic wheat industry. This initiative addresses the current reliance on imported wheat, with only 0.7% self-sufficiency, and aims to increase self-sufficiency to 5% by 2025.

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Original content

(Korea Agricultural Newspaper = Reporter Eun-Young Yoo) The iCOOP Consumer Life Cooperative Federation (Chairman Jeong-Hee Kim), along with the Ministry of Agriculture, Food and Rural Affairs (Minister Hyun-soo Kim), the Domestic Wheat Industry Association (CEO Son Joo-ho), and SPC Samlip (CEO Hwang Jong-hyun), 'Activated Domestic Wheat Consumption' On the 23rd, a win-win cooperation for ' was signed. This public-private agreement was prepared to expand the domestic wheat consumption market and secure a stable market for farmers. Starting with the scale of 5,000 tons of domestic wheat this year, iCOOP KOREA plans to increase purchases by 250 tons annually until 2025 and develop competitive domestic wheat products. The Domestic Wheat Industry Association and the government also plan to lead the continuous growth of the domestic wheat industry by supplying stockpiled wheat for high-quality wheat production and stable production, respectively. Although wheat consumes enough to be ...

Source: Newsfarm