What are the measures to stabilize the supply and demand of South Korean beef?

Published 2023년 2월 14일

Tridge summary

The Ministry of Agriculture, Food and Rural Affairs of South Korea is taking measures to stabilize the supply and demand of Korean beef due to a significant drop in wholesale prices. The plan includes a project to promote Korean beef demand domestically through discounts and special sales, and to expand exports, especially to Hong Kong and Malaysia. The ministry also aims to support small and medium-sized farmers by easing loan procedures, increasing support for feed purchase funds, and prioritizing forage quota tariffs for these farms. Other measures include simplifying loan procedures, prioritizing small and medium-sized farms at public markets, and enacting the ‘Act on the Management and Support of Livestock Distribution’ to stabilize the supply and demand of Korean beef.

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

Original content

Ministry of Agriculture, Food and Rural Affairs encourages competitors to participate with discount events centered on Nonghyup… Creating an atmosphere to increase Korean beef consumption Temporary loan simplification, etc. Promoting measures for small and medium-sized farmers The Ministry of Agriculture, Food and Rural Affairs (Minister Jeong Hwang-geun, hereinafter referred to as the Ministry of Agriculture, Food and Rural Affairs) will ease the difficulties of farmers due to the recent drop in wholesale prices of Korean beef and consider that the price drop problem will last for a long time until next year. After discussion, it was announced that measures to stabilize the supply and demand of Korean beef were prepared. With the goal of stabilizing the Korean beef industry this year through a soft landing of Korean beef wholesale prices, the company plans to minimize losses for small and medium-sized farmers by stabilizing Korean beef prices by creating additional demand for ...

Source: Aflnews