Support of KRW 12.5 billion for Korean beef feed costs

Jeonnam Province in South Korea is providing financial support to small-scale livestock farms to offset the impact of falling Korean beef prices and rising feed prices. The support, worth 12.5 billion won, will be shared 50% by the farmers and is aimed at farms with no more than 50 animals. The province estimates that the increase in feed purchase costs per animal is 66,000 won, and each farmer will receive up to 990,000 won in administrative support. The initiative aims to maintain the local cattle breeding base and is supported by the Jeonnam Provincial Branch of the National Korean Beef Association and local livestock cooperatives.

While livestock farms are experiencing difficulties due to falling Korean beef prices and rising feed prices, Jeonnam Province (Governor Kim Young-rok) is the only local government in the country to support small-scale farms with a project worth 12.5 billion won (50% of farmers' own burden) to support the difference in the increase in feed purchase costs. Expand . This support is for farms with 50 or less animals, but support for the difference in feed purchase costs is applied to a maximum of 30 animals per farm. If the number of animals raised is 50, only up to 30 animals can receive support for the increase in feed purchase costs. Farms with more than 51 animals are excluded from this support. Jeonnam Province estimates the increase in farm feed purchase costs per animal to be 66,000 won. Of this, 50% (33,000 won) is supported, so the maximum amount that farmers receive as administrative support is 990,000 won. Confirm the farm's feed purchase history and make the settlement at ...