Jeonbuk Province Provides 24.6 Billion Won in Feed Purchase Funds to Livestock Farmers

Priority Allocation to Beekeepers Facing Difficulties Due to Mass Mortality

[Jeonju=Asia Economy Honam Reporting Headquarters Reporter Kim Han-ho] Jeonbuk Province announced on the 1st that it will provide 24.6 billion KRW in feed purchase funds to stabilize the management of livestock farmers who are struggling with increased operating costs due to the rise in international grain prices caused by the Russia-Ukraine war.

The support target farms will be prioritized for beekeeping farms experiencing management difficulties such as mass deaths.

Next, support will be provided in order to poultry farms affected by avian influenza, farms below the large-scale farm criteria (less than 150 cattle, 3,000 pigs, 90,000 chickens, 15,000 ducks), and animal welfare-type livestock farms.

The conditions for feed purchase fund support are 100% loan, 1.8% interest rate, and a 2-year lump-sum repayment, and the funds are provided for the purpose of purchasing new feed and repaying existing credit balances.

The support limit per farm is 600 million KRW for Hanwoo, dairy cows, pigs, chickens, and ducks, and 90 million KRW for other livestock species.

Avian influenza-affected farms can receive up to 1.5 times the support limit per farm, and the support amount is calculated by multiplying the number of animals raised by the support unit price per animal within the 900 million KRW limit.

The support unit prices are 1.36 million KRW per Hanwoo, 2.6 million KRW per dairy cow, 300,000 KRW per pig, 12,000 KRW per chicken, and 18,000 KRW per duck.

Farmers wishing to receive support can apply at their respective eup, myeon, dong, or city/county offices, and the city/county will review the number of animals raised, loan balance, and damage status to confirm the support recipients, who can then receive loans from local agricultural and livestock cooperatives.

Jeonju=Honam Reporting Headquarters Reporter Kim Han-ho stonepeak@asiae.co.kr