South Korea: Suggestion of surplus oil treatment measures before crude oil reduction
Crude Glycerol
South Korea
Published Sep 25, 2020
Tridge summary
[Livestock Newspaper Reporter Min Byeong-jin] As the crude oil supply and demand imbalance is intensifying, the government is consistently acting as a stage measure, urging the dairy industry to actively establish measures to deal with excess oil. The average daily crude oil production in the first half of this year recorded 5,896 tons due to the mild winter climate, an increase of 2.1% from the same period last year, but the daily average crude oil consumption decreased by 0.2% due to the aftermath of Corona 19.
Original content
In the first half of this year, average daily crude oil production recorded 5,896 tons due to the mild winter climate, an increase of 2.1% from the same period last year, but average daily crude oil consumption decreased by 0.2% to 5,238 tons due to the aftermath of Corona 19, resulting in a daily average surplus Crude oil volume increased by 23.4% to 638 tons. As the imbalance in supply and demand for raw milk has been prolonged, the Dairy Farmers Promotion Association is reported to have sent a notice to dairy farms on the 11th, saying that there is a possibility of pursuing measures to reduce milk production (implementing a negative quota, reducing prices in excess of quotas) to stabilize supply and demand from January 1 next year. If surplus milk continues to increase, it is an unavoidable measure because smooth business operation within the budget for supply and demand control of the Dairy Farming Promotion Association could be difficult. In response, the Korea Dairy Farming ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes.
To learn more about our cookies, please read our Privacy Policy.