41,000 KRW per kg ... 22,439 KRW higher than the average winning bid price per kg in July
On the 10th, at the ‘2023 18th Hanwoo Premium Meat Competition’ hosted and organized by Gyeongnam Nonghyup, a castrated bull submitted by the Hadong Livestock Cooperative’s farmer Seo Won-gil won the grand prize.
Marking its 18th year, this competition featured 24 castrated Hanwoo bulls from 12 livestock cooperatives across the province, exhibited at the Bukyeong Livestock Products Market. According to expert evaluations by the Livestock Products Quality Assessment Service, most of the submitted Hanwoo received grades of 1+ or higher, demonstrating excellent results.
Kang Moon-kyu, Deputy Head of the Economic Department (center), and Jeong Jong-yoon, Head of the Livestock Business Division (right), are taking a commemorative photo in front of the prize-winning cattle from the Seo Won-gil farm, selected as the best at the 18th Hanwoo Premium Beef Competition. [Image provided by Gyeongnam Nonghyup]
In line with the event’s purpose to encourage Hanwoo farmers’ motivation for producing premium meat and to promote the excellence of high-quality Hanwoo to enhance consumer trust, the grand prize-winning bull was auctioned at the Bukyeong Livestock Products Market on the same day at the highest nationwide bid price. The average bid price for the submitted bulls was 24,417 KRW, expected to satisfy the discerning tastes of consumers.
The highest bid price of 41,000 KRW was more than double the July average bid price of 18,561 KRW at the Bukyeong Livestock Products Market, exceeding it by 22,439 KRW. This resulted in an additional payment of over 12 million KRW in sales revenue, directly benefiting the farmer’s income.
Gyeongnam Nonghyup plans to continue strengthening support to encourage more excellent specimens to be submitted, thereby enhancing the competitiveness of the Hanwoo industry. They aim to widely promote the excellence of Gyeongnam Hanwoo and actively contribute to increasing farmers’ income through improved price competitiveness.
Kim Ju-yang, the head of the department organizing this competition, stated, “The fact that most of the submitted Hanwoo received the highest grades reflects the excellent feeding capabilities of Hanwoo farmers in the province, the support from livestock cooperatives for premium meat production techniques, and the positive effects of high-quality feed provided by agricultural and livestock cooperatives.” He added, “Going forward, Gyeongnam Nonghyup will strive even harder to further improve the production capacity of excellent Hanwoo so that Gyeongnam Hanwoo farmers can produce high-quality Hanwoo and supply clean livestock products.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
