South Korea: Temporarily suspend imports of ginger TRQ this year
Whole Ginger
South Korea
Published Jan 2, 2022
Tridge summary
The ginger low tariff quota (TRQ) operation was suspended this year. This is the result of strong demand from producer groups to stop TRQ as the price of ginger fell due to increased ginger production in 2021. Producer groups and Nonghyup Economic Holdings are expecting that there will be a supply-demand control effect, such as a decrease in the area of ginger cultivation due to the suspension of TRQ. The government and Nonghyup decided to temporarily suspend ginger TRQ. Producer group “need to control supply and demand” = Nonghyup Economic Holdings recently sent an official letter to the Ministry of Agriculture, Food and Rural Affairs, and each regional Agricultural Cooperatives stating that it will temporarily suspend ginger TRQ imports in 2022. Ginger TRQ is operated with a capacity of 1860 tons per year based on the allocation method for end-users. On behalf of the government, Nonghyup Economic Holdings is distributing supplies to 41 local Agricultural Cooperatives and the Korea Ginger Producers Association belonging to the Ginger National Council, which are end-users. Currently, the general tariff on fresh ginger is 377.3%, but the concession tariff for TRQ imports is 20%. Ginger imported by TRQ is entirely supplied for seeds. Ginger TRQ suspension was decided at the strong request of the producer group.
Original content
The ginger low tariff quota (TRQ) operation was suspended this year. This is the result of strong demand from producer groups to stop TRQ as the price of ginger fell due to increased ginger production in 2021. Producer groups and Nonghyup Economic Holdings are expecting that the cessation of TRQ will have an effect of regulating supply and demand, such as reducing the area of ginger cultivation. ◆Government and Nonghyup decided to temporarily suspend ginger TRQ… Producer group “need to control supply and demand” = Nonghyup Economic Holdings recently sent an official letter to the Ministry of Agriculture, Food and Rural Affairs and each regional Agricultural Cooperatives stating that it will temporarily suspend ginger TRQ imports in 2022. Ginger TRQ is operated with a capacity of 1860 tons per year based on the allocation method for end users. On behalf of the government, Nonghyup Economic Holdings is distributing supplies to 41 local Agricultural Cooperatives and the ...
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