“Hanwoo Price Drop, Compound Feed Surge”… Ulsan City’s Measures to Stabilize Feed Prices for Livestock Farmers
by Kim Yongu
Published 08 May.2023 08:31(KST)
Updated 07 Aug.2025 12:50(KST)
Support of Total 1 Billion KRW for Feed Purchase Costs of 1,758 Farms
Applications Accepted by Branches of the National Hanwoo Association Until May 19
Ulsan City will allocate a budget of 500 million KRW for feed price stabilization measures through the first supplementary budget of this year and provide support to livestock farmers.
This supplementary budget was prepared to assist livestock farmers who are suffering from double hardships due to soaring compound feed prices caused by the Russia-Ukraine war and abnormal weather, as well as the decline in Korean beef prices due to sluggish consumption.
The budget for feed price stabilization measures for livestock farmers totals 1 billion KRW, consisting of 500 million KRW from the city and 500 million KRW from district and county governments.
The target beneficiaries are 1,758 farms raising Korean beef cattle (Hanwoo), beef cattle, dairy cows, deer, and goats, who can receive support covering 20% of the purchase cost of fibrous compound feed produced in Ulsan throughout this year.
Fibrous compound feed is a complete feed for herbivorous livestock, made by mixing forage and compound feed. It is also known as TMR feed or TMF feed.
The project period is from May to December, and applications will be accepted through the Ulsan branch of the Korea Hanwoo Association and its local branches until May 19.
An official from Ulsan City stated, “We expect this to be a great help to livestock farmers who are bearing an additional annual feed cost of 8.5 billion KRW due to last year’s surge in feed prices.”
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