The government has outlined plans to augment the supply of key agricultural commodities, including napa cabbage, apples, and pears, to manage price levels under current inflationary conditions. During a government meeting led by acting Finance Minister Lee Hyoung-il, the strategies were articulated to address this issue.
Specifically, the government intends to increase the availability of summer napa cabbage from 23,000 tons to 36,000 tons, with plans to market the entire amount before the Chuseok holiday. Similarly, the apple supply is set to rise from 4,000 tons to 12,000 tons, and pears from 2,500 tons to 4,000 tons, according to the finance ministry's agenda.
Minister Lee emphasized, "We will prioritize the allocation of tariff-free import quotas for food ingredients to companies that use them, in order to ease cost burdens in the processed food industry."
Recent data from the government indicates that consumer prices increased by 2.2 per cent in June compared to the previous year, surpassing the Bank of Korea's 2 per cent inflation target. This escalation in prices is predominantly attributed to a surge in the costs of industrial goods, chiefly processed food items.
Source: Korea Times
