Government to Sell Stockpiled Solar Salt Around Mid-Month
The government has decided to sell 194 tons of government-stockpiled napa cabbage through the online wholesale market at a price 20% lower than the market price to stabilize napa cabbage prices.
The Ministry of Agriculture, Food and Rural Affairs and the Ministry of Oceans and Fisheries announced on the 6th that government-stockpiled napa cabbage will be sold through the agricultural and marine products online wholesale market on the 7th and 8th, followed by government-stockpiled solar salt scheduled for sale in mid-August.
Napa cabbages are displayed at a large supermarket in Yangjae-dong, Seoul. Photo by Jo Yongjun jun21@
To prepare for the annual supply instability of summer napa cabbage, the Ministry of Agriculture, Food and Rural Affairs proactively stockpiled 9,000 tons of spring napa cabbage. To stabilize napa cabbage prices, 150 to 200 tons are being released daily through the wholesale market until the Chuseok holiday. Among these, 194 tons will be sold on the 7th and 8th through the agricultural and marine products online wholesale market at a price approximately 20% lower than the market price.
An official from the Ministry of Agriculture, Food and Rural Affairs explained, "The significance of selling through the online wholesale market is that large-volume buyers such as kimchi manufacturers can purchase directly without going through complicated transaction steps," adding, "Once transactions are made, products are delivered directly to the buyers, reducing logistics costs and thereby lowering the final supply cost."
The Ministry of Agriculture, Food and Rural Affairs and the Korea Agro-Fisheries & Food Trade Corporation (aT) visited the Korea Kimchi Association on the 1st to explain the supply plan for the stockpiled napa cabbage to ensure maximum supply to kimchi manufacturers facing difficulties in summer napa cabbage supply. Participating companies were encouraged to register in advance on the online wholesale market.
Following the sale of stockpiled napa cabbage, the Ministry of Oceans and Fisheries plans to supply stockpiled solar salt through the online wholesale market at prices lower than the market price in mid-August. The Ministry of Agriculture, Food and Rural Affairs and the Ministry of Oceans and Fisheries expect that this supply of napa cabbage and solar salt will help reduce manufacturing costs for kimchi manufacturers and contribute to stabilizing food prices.
Meanwhile, as of the 4th, the transaction performance of the agricultural and marine products online wholesale market this year reached 176.8 billion KRW, showing a growth rate of over 30% monthly on average.
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