Jangsu Hanwoo Livestock Corporation Lowers TMR Feed Prices by 3.5%

[Asia Economy Reporter Kim Jong-hwa] Jangsu Hanwoo Regional Corporation announced that from the 1st, it has reduced the price of Total Mixed Ration (TMR) feed by an average of 3.5%, lowering it by 300 KRW per bag (based on 20 kg) and 15 KRW per kg to ease the burden on livestock farmers.

Although factors such as the recent stabilization of international grain prices and the decline in the won-dollar exchange rate have created conditions for feed price reductions, the feed industry has been reluctant to lower prices, citing rising labor and production costs.

Korean Beef Cattle Farm.
Photo by Asia Economy DB

A representative of Jangsu Hanwoo Regional Corporation stated, "Although international grain prices and the won-dollar exchange rate have somewhat stabilized recently, volatility remains high, making price reductions difficult. However, since the livestock industry is facing a crisis more than ever due to rising production costs and falling prices, we have lowered the TMR feed prices to alleviate the burden on livestock farmers."

Meanwhile, Jangsu Hanwoo Regional Corporation, which operates the Jangsu Hanwoo Gene Bank and produces and sells TMR feed, has proactively helped livestock farmers by reducing feed prices, including a 350 KRW reduction per bag on December 21 of last year.