South Korea: Imported soybean and red bean direct delivery price should be raised

Soybean

Dried Adzuki Bean

South Korea

Published Nov 9, 2022

Tridge summary

The soundness of the Agricultural Fund is undermined by freezing the supply price for several years. As it is confirmed that the supply price of imported beans and red beans, which the government imports through state-run trade and provides to end-users, has been frozen for several years, there is a high public opinion that the price should be raised. This is because it is understood that the soundness of the Agricultural Products Price Stabilization Fund (Nongan Fund) is damaged and adversely affects domestic consumption in an attempt to catch the price of ordinary people. According to the Ministry of Agriculture, Food and Rural Affairs, the Korean government imports imported soybeans (edible soybeans) and red beans through state trade. Because the self-sufficiency rate is low, it is not easy to meet domestic demand with domestic production alone. This year, 248,000 tons of soybeans were imported in connection with the World Trade Organization (WTO), the Free Trade Agreement (FTA), and the Low Tariff Quotation (TRQ) system. supplied in a way Imported red beans are also distributed in the market by bringing in 26,94 tons of red beans in the same form. A short sale is a method of selling at the highest price to a company, and a direct delivery is a direct allocation to a company at a certain price. The problem is direct shipping.

Original content

With the supply price frozen for several years Damage to the soundness of the Nongan Fund As it has been confirmed that the supply price of imported beans and red beans, which the government imports through state-run trade and provides to real-demand companies, has been frozen for several years, public opinion that the price should be raised is high. This is because it is understood that the soundness of the Agricultural Products Price Stabilization Fund (Nongan Fund) is damaged and adversely affects domestic consumption in an attempt to catch the price of ordinary people. According to the Ministry of Agriculture, Food and Rural Affairs, the Korean government imports imported soybeans (edible soybeans) and red beans through state trade. Because the self-sufficiency rate is low, it is not easy to meet domestic demand with domestic production alone. This year, 248,000 tons of soybeans were imported in connection with the World Trade Organization (WTO), the Free Trade Agreement ...

Source: Nongmin