The Ministry of Agriculture, Food and Rural Affairs, preemptively responds to stabilize the supply and demand of onions...exporting a stockpile of 15,000 tons.

(Seoul=Yonhap News) Reporter Han Ju-hong = The Ministry of Agriculture, Food and Rural Affairs announced on the 4th that it will implement preemptive supply management measures as the wholesale price of onions continues to be weak and field-to-farm transactions (direct farm contracts) remain sluggish. According to the Ministry of Agriculture, Food and Rural Affairs, typically the wholesale price of stored onions rises between January and March, but this year, due to a combination of factors including increased inventory, decreased demand, and the shipment of lower quality onions, the price remains lower than in previous years. In response, the government plans to export 15,000 tons of the 25,000 tons of onions purchased for reserves to Vietnam, Taiwan, Japan, and other countries to isolate the market. The remaining amount will be used only if supply insecurity occurs after the shipment of spring onions in late next month. Additionally, from the 5th to the 16th, a discount support of up to 40% will be implemented, mainly in large supermarkets and traditional markets, and next month, a promotional and discount event for domestic onions will be additionally carried out in cooperation with agricultural cooperatives and self-help funds. Furthermore, to stabilize the wholesale market price, quality control will be strengthened by reducing the shipment of onions with poor storage conditions or low commercial value, and in cooperation with the Customs Service and the Food and Drug Safety Ministry, illegal clearance of imported onions and pesticide residue inspections will be strengthened until the shipment of early-maturing onions next month. Hong In-gi, the distribution and consumption policy director of the Ministry of Agriculture, Food and Rural Affairs, said, "This measure goes beyond short-term price response and is a preemptive measure to stabilize the overall supply and demand of onions this year," and added, "Even when prices fall, we will closely examine the on-site situation and respond appropriately."