Government to Release Record High Supplies of 'Apples, Pears, Beef, Pork' Before Lunar New Year Holiday... "Prices to Be Lower Than Last Year"

The government plans to supply apples, pears, beef, and pork in the largest volume ever before the Lunar New Year holiday to manage the consumer prices of key seasonal products at levels lower than last year. In case egg prices rise due to the spread of highly pathogenic avian influenza (AI), additional support will be provided to reduce the delivery price.

On the 16th, the government announced that it will implement the "2024 Lunar New Year Seasonal Products Supply Stability Measures" containing these details.

On the 10th, apples were displayed at Hanaro Mart Yangjae Branch in Seocho-gu, Seoul. Photo by Jinhyung Kang aymsdream@

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According to the Ministry of Agriculture, Food and Rural Affairs, the supply of Lunar New Year seasonal products is generally stable except for fruits whose production has decreased due to weather disasters. However, there is a possibility of supply fluctuations for vegetables and eggs due to potential cold waves and the spread of highly pathogenic AI.

To stabilize the supply and prices of Lunar New Year seasonal products, the Ministry will supply 194,000 tons of the top 10 seasonal products, the largest ever, by securing government stockpiles, contract cultivation volumes with the NongHyup, and normal weekend operation of slaughterhouses. This is 1.6 times the usual supply. Additionally, the scale of discount support for agricultural and livestock products (59 billion KRW) will be increased 2.2 times compared to last year to the highest level ever. Measures to strengthen protection for producers and consumers, such as providing thrifty consumer information and cracking down on illegal distribution, will also be promoted.

First, to stabilize the supply of agricultural and livestock products during the Lunar New Year peak season, starting from January 19, three weeks before the holiday, the government will expand the supply of 10 seasonal products to 1.6 times the usual level by utilizing government stockpiles and NongHyup contract cultivation volumes. Especially, 44.6% (86,000 tons) of the total supply will be concentrated in the second week before the Lunar New Year, when demand for gift sets is high. Then, 29.4% (57,000 tons) will be supplied in the first week before the holiday, and 25.9% (50,000 tons) in the third week before the holiday, to ensure supply stability.

By item, the supply of napa cabbage and radish is currently stable, but due to possible cold waves, contract cultivation volumes with NongHyup will be supplied first. Depending on the supply situation, 45,000 tons of available Lunar New Year stockpiles and shipment control facilities will be flexibly supplied.

For apples and pears, production significantly decreased last year due to weather disasters. To stabilize supply during the Lunar New Year peak season, a total of 74,000 tons (38,000 tons of apples and 36,000 tons of pears) from contract cultivation and nationwide NongHyup volumes will be intensively shipped. The market will be encouraged to supply irregular and small-sized fruits to expand supply. To directly lower consumer prices, the government will support a 1,000 KRW price reduction on large supermarket supply prices for ritual-use apples and pears (3-pack) from production areas (500,000 packs of 500 tons of apples and 400,000 packs of 900 tons of pears). Combined with government discount support (30%), this will induce retailers to increase their own discount rates (20-40%). Furthermore, to disperse demand for apple and pear gift sets, the supply of mixed sets including citrus fruits, grapes, and nuts through retailers will be expanded. NongHyup will also prepare 100,000 small-pack and practical gift sets of apples and pears, supplying them at prices 15-20% cheaper than market prices.

Beef and pork supply is relatively stable, but to prepare for increased demand during the Lunar New Year period, slaughterhouses will operate normally on weekends, and supply volumes through NongHyup distribution channels will be expanded to 1.8 times and 1.3 times the usual levels, respectively. Discount events using Hanwoo and Handon self-support funds will be held, and NongHyup and agricultural cooperatives will increase the supply of practical Hanwoo gift sets priced under 100,000 KRW by more than 20% compared to last year.

Chicken supply is increasing due to productivity recovery despite the occurrence of highly pathogenic AI. To maintain stable supply, incentive funds of 24.1 billion KRW will be provided to broiler integrated operators. From this month, the usage period for parent stock has been extended from 64 weeks to unlimited. Additionally, to prepare for supply instability caused by highly pathogenic AI, 30,000 tons of tariff quota imports will be introduced starting from the 16th.

Eggs are being sold at a large supermarket in Seoul. Photo by Mun Ho-nam munonam@

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Eggs have a relatively large daily supply of about 45 million, but there is a possibility of supply instability due to the spread of highly pathogenic AI. To stabilize supply during the Lunar New Year peak season, the government will increase supply from 900 tons to 1,500 tons and support a 500 KRW reduction in delivery price per 30 eggs along with a 30% government discount support to directly lower consumer prices. In particular, if AI spreads, an additional 500 KRW per 30 eggs will be supported. To prepare for the spread of highly pathogenic AI, the laying period for hens will be extended from 83 weeks to 90 weeks, and 14-week-old chicks will be raised and stockpiled through hatcheries and rearing farms to supply to farms affected by culling and those requiring additional stocking. Furthermore, to substitute demand for processed egg products made from domestic eggs, tariff quotas have been applied since the 4th for 5,000 tons of processed egg products, and from the 11th, 1.12 million U.S. eggs have been introduced on a trial basis and supplied to the market.

Han Hoon, Vice Minister of the Ministry of Agriculture, Food and Rural Affairs, said, "To ease the burden on consumers' grocery bills during the Lunar New Year when demand for agricultural and livestock products is concentrated, we will operate a 'Supply Stability Task Force' from January 19, three weeks before the holiday, until February 8, before the Lunar New Year holiday, to monitor supply status and price trends daily and respond promptly to any instability. We will make every effort to stabilize the supply of agricultural and livestock products." He added, "We ask for active participation not only from producers but also from the distribution industry, processed food, and dining sectors to ensure overall food supply stability during the Lunar New Year holiday."

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