Pilot Operation of Online Pork Auction... Full-scale Introduction in 2023
by Moon Chaeseok
Published 29 Dec.2021 17:20(KST)
Online Pilot Auction of Pork at Naju Livestock Products Market
Increase Pilot Wholesale Markets by More Than 3 Next Year and Expand Livestock Species
A display of pork being arranged at the meat section of a large supermarket in Seoul. Photo by Jinhyung Kang aymsdream@
원본보기 아이콘[Sejong=Asia Economy Reporter Moon Chaeseok] The Ministry of Agriculture, Food and Rural Affairs announced on the 29th that it has started a pilot online auction for pork at the Nonghyup Naju Livestock Products Market in collaboration with the Livestock Products Quality Evaluation Institute and Nonghyup Livestock Economic Holdings.
An online auction is a transaction method where objective information such as videos of pork carcasses and livestock product grading results are provided online in wholesale markets, allowing wholesale market buyers, including intermediate wholesalers and auction participants, to participate in the auction online without location restrictions and place winning bids.
In April, the Ministry of Agriculture, Food and Rural Affairs selected the Nonghyup Naju Livestock Products Market as a pilot wholesale market, equipped it with video recording equipment, and established a trading system to implement the on-site auction method as a video- and information-based non-face-to-face online method.
The Ministry plans to designate more than three additional pilot wholesale markets next year, operate them in parallel with the existing on-site auction method, and officially introduce online auctions starting in 2023.
In response to the diversification of meat consumption and the expansion of the home meal replacement (HMR) market, online auctions will also be introduced for partial meat transactions and will be expanded in the future to other livestock species, including beef.
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