Soybean Procurement and Stockpiling Budget Cut by 50%… Paddy-field Soybean Production Base Shaken

Korea Farmers & Fishermen Newspaper한국농어민신문

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The foundation of domestic soybean production is wavering. Concerns are mounting that the industry could face a worst-case scenario, compounded by a combination of weak prices, a decrease in cultivation area, and poor crop yields this year, as well as cuts to next year's budget for purchasing and production base support. The domestic soybean industry is urging the restoration of the relevant budget and the establishment of measures to expand domestic soybean consumption. According to soybean outlook data released on the 26th by the Agricultural Observation Center of the Korea Rural Economic Institute, this year's soybean production is projected to be 141,400 tons, a 9.5% decrease from last year…

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