Yeonggwang-gun, Application and Reception for Major Agricultural Products Minimum Price Guarantee System

[Yeonggwang=Asia Economy Honam Reporting Headquarters Reporter Lee Seong-jeong] Yeonggwang-gun, Jeollanam-do (Governor Kim Jun-seong) announced on the 16th that it will accept contract applications until the 30th of next month at the eup/myeon offices and local agricultural cooperatives for farmers cultivating chili peppers, green onions, and onions, following the implementation of the Minimum Price Guarantee System for Major Agricultural Products in 2021.

The Minimum Price Guarantee System for Major Agricultural Products, implemented to stabilize the cultivation of chili peppers, green onions, and onions, which have high market price volatility, provides compensation for the difference between the minimum price and the wholesale market price if the wholesale market price remains below the minimum price for more than 10 days during the shipping period.

Contract applications are accepted from farmers whose resident registration is in the county, whose cultivated land is located within the jurisdiction, and who cultivate at least 1,000㎡ per target item. The support limit is restricted to one crop per item per farm, with an area ranging from 1,000㎡ to 10,000㎡.

A county official stated, “Fields cultivating chili peppers, green onions, and onions that are not under contract will be excluded from the Minimum Price Guarantee System support, so farmers growing these target items are urged to conclude cultivation contracts within the deadline.”

Meanwhile, last year’s minimum prices for the target items were 14,149 KRW/kg for chili peppers, 448 KRW/kg for green onions, and 419 KRW/kg for onions. This year’s minimum prices will be decided and announced in June through the deliberation of the ‘Minimum Price Guarantee Support and Operation Committee for Major Agricultural Products.’

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