Symposium on Standard Price Calculation Model for Livestock Products in School Meals Held

Seoul Agro-Fisheries & Food Corporation to Host Symposium on Utilizing Data from Livestock Products Quality Evaluation Institute on Prices, Distribution Costs, and Yield on the 19th

[Asia Economy Reporter Park Jong-il] Seoul Agro-Fisheries & Food Corporation (President Kim Kyung-ho) held a symposium on the 19th at the headquarters auditorium to establish a standard pricing model for livestock products in school meals (hereinafter referred to as the ‘pricing model’) to enhance fairness and transparency in the pricing of livestock products for school meals.

The pricing model reasonably reflects costs incurred during slaughtering, processing, and school delivery based on the auction prices of cattle and pigs, applying production volume and price characteristics by part using nationwide big data from the Livestock Products Quality Evaluation Service.

To this end, the Corporation signed a business agreement with the Livestock Products Quality Evaluation Service, which is responsible for livestock grading, traceability management, and distribution status surveys, in November 2018, formed a related TFT, and has been jointly conducting surveys and research.

A representative from the Livestock Products Quality Evaluation Service who participated in building the pricing model said that the Ministry of Education and several local education offices had expressed difficulties in pricing livestock products for school meals, and they expect the newly established pricing model to be a solution.

The symposium was held in two parts: Part 1 was an explanatory session, and Part 2 was an expert symposium.

To prepare for concerns about the recent resurgence of COVID-19, the number of attendees from related companies was minimized, and prior disinfection was conducted before the event. Participants were required to wear masks, use hand sanitizer, undergo temperature checks, and check in using the Ministry of Health and Welfare’s electronic entry log (QR code) to prepare for any emergencies.

Kim Seung-ro, head of the Livestock School Meal Team, stated, "We plan to complete the model in continuous cooperation with the Livestock Products Quality Evaluation Service so that the pricing model can be applied from the second semester. We also plan to develop the model so that it can be used in school meals nationwide, including Gyeonggi-do and Sejong City, which are participating in the TFT."

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