Inspection of Chuseok Seasonal Goods Supply and Discussion on Measures to Stabilize Hanwoo Prices
Fundamental Rice-Related Measures to Be Prepared by Year-End
Song Miryeong, Minister of Agriculture, Food and Rural Affairs, announced on the 10th that to stabilize the prices of rice and Korean beef, plans are underway to convert 20,000 hectares (20,000㎡) of rice paddy area into feed use and to reduce the number of breeding cows by an additional 10,000 heads.
Minister Song stated at the 'Chuseok Seasonal Goods Supply and Demand Check and Harvest Season Rice and Korean Beef Price Stabilization Measures' meeting held at the National Assembly on the same day, "Considering this year's harvest season conditions and recent rice prices, we have prepared proactive supply and demand stabilization measures early."
Along with converting rice for feed use, the government plans to implement additional isolation measures for surplus production beyond the pre-isolation following the Statistics Korea production announcement.
Minister Song explained, "To resolve the structural oversupply of rice, we plan to institutionalize a real reduction in rice cultivation area and prepare more fundamental measures such as promoting consumption aligned with new consumption trends by the end of the year."
To stabilize Korean beef supply and demand, in addition to reducing breeding cows, large-scale consumption promotion events will continue even after Chuseok.
Regarding long-term countermeasures, the plan is to improve the high-cost long-term production structure and maintain a domestic self-sufficiency rate of about 40% for Korean beef to strengthen the competitiveness of the Korean beef industry, even if major countries abolish beef tariffs.
Minister Song said, "The supply and demand of major seasonal goods such as apples, pears, and Korean beef are currently stable. Since last week, we have been supplying seasonal goods at the largest scale ever, and agricultural and livestock products are being supplied with discounts of up to 50% at traditional markets and marts." She added, "With Chuseok just a week away, the Ministry of Agriculture, Food and Rural Affairs will carefully monitor the supply and demand situation daily and increase support such as supply of seasonal goods and promotional discount events."
Song Mi-ryeong, Minister of Agriculture, Food and Rural Affairs, is conducting a campaign to promote the consumption of Korean beef ahead of the Chuseok holiday at Hanaro Mart Yangjae branch in Seocho-gu, Seoul on the 5th. Photo by Kang Jin-hyeong aymsdream@
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