South Korea stabilises prices of eggs, poultry


South Korea’s government will release its egg and poultry stock early next month to stabilise soaring prices. Depending on prices, up to 5 million eggs will be released for two weeks at a price 30% lower than the market, according to officials at the Ministry of Agriculture, Food and Rural Affairs. For poultry meat, the government will put in 2100 tonnes from May 31, an amount equal to one to two days of domestic consumption, reported The Korea Herald.

The meat will be sold 50% cheaper than the market price. The National Agricultural Cooperative Federation will purchase the eggs and poultry from the government and sell them through its outlets nationwide. Private distributors, who hold an estimated 6000 tonnes of poultry meat, will be encouraged to release their stock as well. Egg prices had soared for months after the AI outbreak in November last year. The ministry is planning to import eggs from Thailand, Denmark and the Netherlands from as early as next month to fend off shortages.


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