Steady supply of government reserves and private storage… Promoting consumption of alternative fruits

The South Korean government has announced a policy to stabilize the supply and demand of agricultural products by managing government-stockpiled and privately stored quantities, expanding quota tariffs for items like cabbage and radish, and inducing consumption of alternative fruits. Despite the effects of a heat wave and adverse weather conditions, the Ministry of Agriculture, Food and Rural Affairs reported a stabilization of most agricultural products. However, prices of items such as radish, cabbage, tangerines, and pears have risen due to the heat wave. The Ministry plans to increase the cultivation area for these items and supply them to the market to prevent supply and demand instability. However, the effectiveness of the government’s expanded application of quota tariffs has been low, and concerns have been raised about the increase in costs for farmers and the lack of benefits for consumers. The Ministry also plans to strengthen crop monitoring and provide government discount support for items with rapidly rising consumer prices to ease the burden on consumers.