ID :
37978
Tue, 12/30/2008 - 13:31
Auther :
Shortlink :
http://m.oananews.org//node/37978
The shortlink copeid
Gov't to inject 530 bln won to help stabilize local beef market
SEOUL, Dec. 29 (Yonhap) -- The government said Monday that it will spend 530.9 billion won (US$415.5 million) in 2009 to help local beef producers cope with cheap imports and widely fluctuating livestock numbers.
The master plan that runs from 2009 to 2012 calls for a set number of hanwoo
cattle to be raised and for a minimum domestic market share to be secured, vital
for ensuring consistent profit levels for local livestock farmers, the Ministry
for Food, Agriculture, Forestry and Fisheries said.
"At least 2 million heads of hanwoo cattle and 40 market share are the target, as
well as bringing down prices to 2.5 times that of imports," said Lee Sang-kil,
head of the ministry's livestock policy office.
The average price of meat from hanwoo, or Korean cattle, is roughly three times
that of imports while hanwoo cattle numbers are expected to fall off to 1.5
million heads with market share dropping to 35 percent in 2012. At present there
are 2.4 million hanwoo cows are being farmed with a market share hovering around
50 percent of the total.
South Korea initially opened its market to all beef imports in 2001, but had
barred U.S. meat in late 2003 following the confirmation of mad cow disease case.
In late June it effectively eased all restrictions on U.S. beef imports allowing
more foreign beef to be imported.
A rise in imports has caused local beef prices to slide, resulting in reduced
profits and compelling people to raise less cattle, which may eventually result
in an imbalance between supply and demand.
Besides state money set aside for 2009, the official said 570 billion won could
be appropriated for every year up till 2012, although details on the exact amount
needs to be worked out.
Lee said the four-year plan calls for encouraging production tie-ups between
small cattle farmers to achieve economy of scale, support efforts to improve meat
quality, and streamlining of distribution and butchering facilities to cut
distribution costs.
Other measures that are to be taken outline greater effort to improve
self-sufficiency in feed and improving marketing efforts.
The ministry, meanwhile, said it will buy calves and milk cows from January
through March to curb a sharp drop in prices.
yonngong@yna.co.kr
(END)
The master plan that runs from 2009 to 2012 calls for a set number of hanwoo
cattle to be raised and for a minimum domestic market share to be secured, vital
for ensuring consistent profit levels for local livestock farmers, the Ministry
for Food, Agriculture, Forestry and Fisheries said.
"At least 2 million heads of hanwoo cattle and 40 market share are the target, as
well as bringing down prices to 2.5 times that of imports," said Lee Sang-kil,
head of the ministry's livestock policy office.
The average price of meat from hanwoo, or Korean cattle, is roughly three times
that of imports while hanwoo cattle numbers are expected to fall off to 1.5
million heads with market share dropping to 35 percent in 2012. At present there
are 2.4 million hanwoo cows are being farmed with a market share hovering around
50 percent of the total.
South Korea initially opened its market to all beef imports in 2001, but had
barred U.S. meat in late 2003 following the confirmation of mad cow disease case.
In late June it effectively eased all restrictions on U.S. beef imports allowing
more foreign beef to be imported.
A rise in imports has caused local beef prices to slide, resulting in reduced
profits and compelling people to raise less cattle, which may eventually result
in an imbalance between supply and demand.
Besides state money set aside for 2009, the official said 570 billion won could
be appropriated for every year up till 2012, although details on the exact amount
needs to be worked out.
Lee said the four-year plan calls for encouraging production tie-ups between
small cattle farmers to achieve economy of scale, support efforts to improve meat
quality, and streamlining of distribution and butchering facilities to cut
distribution costs.
Other measures that are to be taken outline greater effort to improve
self-sufficiency in feed and improving marketing efforts.
The ministry, meanwhile, said it will buy calves and milk cows from January
through March to curb a sharp drop in prices.
yonngong@yna.co.kr
(END)
