In the passive controlling of supply and demand of South Korean beef, the prices drop

Published 2022년 12월 9일

Tridge summary

The Korean Beef Fund Management Committee has expressed regret over the failure of a preemptive cow reduction project aimed at controlling the supply of Korean beef, as the number of cattle is expected to reach a record high in December. The project, promoted since 2019 by Nonghyup Economic Holdings and the National Korean Beef Association, has not met its target due to farmers delaying slaughter and large-scale farms increasing breeding. Experts suggest a high-quality, differentiated strategy and reducing the number of low-capacity cows to mitigate the impact of falling wholesale prices.

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Original content

Symposium by Korean Beef Fund Management Committee Poor performance in preemptive cow reduction Excessive breeding results Feeder Cattle High Quality Differentiation Strategy Those with low abilities hurry up to ship As the price drop became a reality due to the excessive number of Korean cattle raised, voices expressing regret over the performance of the preemptive cow reduction project that has been promoted since 2019 are growing. According to the Korea Rural Economic Institute, the number of Korean cattle raised in December this year is expected to reach a record high of 3,557,000 and 3,577,000 in December next year. The average wholesale price of Korean beef next year is expected to be between 17,000 and 8,000 won per kilogram, lower than this year. At the 'Symposium Presenting a Vision for the Development of the Korean Beef Industry' hosted by the Korean Beef Fund Management Committee (Chairman Min Kyung-cheon) held at the Sol Beach Resort in Samcheok, Gangwon-do on ...

Source: Nongmin