Government to Invest 300 Billion Won in Agricultural and Livestock Product Discounts... Additional Import of 200 Million Eggs

Shipment Incentives for Pork and Expansion of Quota Tariff Items

Monthly Issuance of Agricultural Discount Vouchers Worth 20 Billion Won

The government has decided to allocate 300 billion won for discount programs on all agricultural and livestock products during July and August. The discount range for eggs and rice will be expanded.

Meat products sales counter at Lotte Mart Seoul Station Branch, Seoul. Photo by Yonhap News

The Ministry of Agriculture, Food and Rural Affairs announced on July 1 that it would implement these measures to stabilize the supply of agricultural and livestock products during the second meeting of the Summer Agricultural and Livestock Product Supply and Demand Stabilization Task Force, held at the Nonghyup Sejong Integrated Center.

The Ministry will double the shipment incentive paid to pig farmers at wholesale markets compared to the previous amount, and provide export incentives to companies participating in processed food discount events.

Traditional market agricultural product discount vouchers, which were previously issued only during holiday periods, will now be issued at a scale of 20 billion won every month starting this month.

The period for applying quota tariffs to 13 items, including processed egg products and imported fruits, will be extended. Quota tariffs will newly be applied to nine items, including grape concentrate and palm kernel cake.

Support will also be expanded for logistics equipment at egg distribution centers, for feed ingredient purchasing funds, and for customized vouchers for users of online wholesale markets.

Previously, the Ministry announced the additional import of 200 million fresh eggs, which are expected to arrive in Korea as early as July 4 and will be supplied to large supermarkets and other retailers. A portion of the supply will also be provided to small business owners in the bakery and confectionery sectors.

For cabbage, zucchini, and cucumber, whose prices have fallen due to oversupply, the Ministry plans to expand the range of items handled at direct transaction markets and hold consumption promotion events to help stabilize supply and demand.

In addition, the Ministry will expand support for contract farming funds (interest-free loans) and for the purchase of pesticides and agricultural materials for farmers and producer organizations.

Kim Jonggu, Vice Minister of Agriculture, Food and Rural Affairs, stated, "We will proactively respond to potential supply instability due to summer weather conditions and do our utmost to ease the burden on consumers and ensure the management stability of farming households."

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