South Korea: Support price stabilization management for cabbage and broccoli farms in Jeju Island

Published 2023년 6월 20일

Tridge summary

The Jeju Special Self-Governing Province in South Korea has announced an allocation of 284 million won for subsidies to 515 farms that ship cabbage and broccoli, in order to help stabilize their management. This is part of the '2023 Jeju-style Agricultural Price Stabilization Management System', designed to support farms that ship these vegetables at prices below a set standard. The subsidy amount is based on 90% of the price difference below the standard, with 106 cabbage farms and 409 broccoli farms receiving support in January and December of the previous year, respectively. This initiative is part of a larger effort to ensure autonomous supply and demand control, and to stabilize business for farms dealing with carrots, cabbage, and broccoli.

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Original content

[Reporter Kang Jae-nam, Korea Rural Newspaper] Jeju Island provides subsidies for price stabilization management to cabbage and broccoli farms. The Jeju Special Self-Governing Province announced that it will provide 284 million won in price stabilization management subsidies to 515 farms that ship cabbage and broccoli items that meet the support standards for the “2023 Jeju-style Agricultural Price Stabilization Management System” to stabilize farm management. According to the province, as a result of researching and analyzing the monthly average price and shipment volume of the Garak Wholesale Market from December of last year to April of last year, the average price of cabbage in January this year was 599 won per 1kg, which is 21 won higher than the target management standard price of 620 won. this has gone down In the case of broccoli, the average price in December 2022 was 2038 won per 1 kg, 196 won lower than the target management standard price of 2234 won. In response, the ...

Source: Agrinet