Government releases 2,900 tons of cabbage and radish stockpiles… “Will reduce burden on consumers”

The South Korean government is taking measures to stabilize the supply and demand of cabbage and radish, which have seen significant price increases due to poor growth and production decreases. The measures include releasing government reserves into the market, increasing import volumes, and reducing the cost burden for food ingredients. The government also plans to continue discount support for alternative items and expand the next crop type. The strategy aims to smoothly supply cabbage and radish after mid-April by increasing agricultural cooperative contract cultivation and increasing the amount of government purchase reserves.

The government will supply a total of 2,900 tons of government reserves to the market to stabilize the supply and demand of cabbage and radish. It also plans to continue to support discounts on alternative items such as bomdong and eolgal to reduce the burden on consumers. On the 7th, Kim Beom-seok, 1st Vice Minister of Strategy and Finance, presided over the ‘Economic Vice Ministers’ Meeting and Price Vice Ministers’ Meeting and People’s Economy Inspection Task Force (TF)’ at the Government Complex Seoul and discussed ‘Agricultural and Food Price Trends and Response Measures’ and ‘Cabbage and Radish Supply and Demand Stabilization Measures’. At the meeting, Vice Minister Kim said, “Consumer prices in February recorded 2.0%, the target level for price stabilization, due to a slowdown in the rise in oil and agricultural product prices,” but added, “As there are domestic and international uncertainties such as abnormal global weather, international oil price volatility, and ...