Essential Goods Supply Stabilization Task Force Launched 4 Weeks Early... "Holiday Price Management"

"Winter Cabbage Stockpiling Promotion... Expansion of Contract Shipping for Apples and Pears"

Kwon Jae-han (first on the right), Acting Director of the Food Industry Policy Office at the Ministry of Agriculture, Food and Rural Affairs, speaking at the kickoff meeting of the Lunar New Year Seasonal Product Supply Stabilization Task Force on the 14th at the Agricultural Observation Center Osong office. (Photo by Ministry of Agriculture, Food and Rural Affairs)

[Sejong=Asia Economy Reporter Moon Chaeseok] The Ministry of Agriculture, Food and Rural Affairs announced on the 14th that it has formed a supply stabilization task force for Lunar New Year seasonal products more than four weeks earlier than usual. This decision reflects the importance of managing prices during the Lunar New Year holiday. The task force will continuously monitor the supply situation and the progress of countermeasures for Lunar New Year seasonal products, holding review meetings 3 to 4 times a month in connection with the government-wide price stabilization response system.

At the kickoff meeting held at the Agricultural Observation Center's Osong office on the same day, Kwon Jaehan, Acting Director of the Food Industry Policy Office at the Ministry of Agriculture, Food and Rural Affairs, assessed, "Considering this year's increase in rice production, recovery in vegetable growth, and sufficient supply of livestock products, supply conditions are expected to gradually improve."

He added, "However, risks such as ongoing demand for beef and pork due to the prolonged COVID-19 pandemic, winter cold waves, and recent outbreaks of highly pathogenic avian influenza have created latent anxiety. Ahead of the holiday, we will proactively manage supply and implement measures such as winter cabbage stockpiling, expanding contract shipments of apples and pears, operating garlic tariff rate quotas (TRQ), and importing eggs."

Rice production was surveyed at 3.88 million tons, a 10.7% increase from last year. Next year's supply of Korean beef is expected to be at the 2013 level (840,000 to 850,000 heads), when prices were low, and pork supply is anticipated to remain at a record high level (18.4 million heads) following this year. The government plans to stockpile 3,000 tons of winter cabbage by the end of this month and expand contract shipments of 14,000 tons of apples and 12,000 tons of pears.

This content was produced with the assistance of AI translation services.