Ministry of Agriculture, Food and Rural Affairs: “Establishment of new stockpiling bases under review and implementation alongside sale of aging bases”

Korea Agricultural Policy Newspaper한국농정신문

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[Korea Agricultural Policy News Reporter Han Ui-jin] Financial conditions, which have been an obstacle to the government's construction of new stockpiling bases, are expected to improve next year. The Ministry of Agriculture, Food and Rural Affairs (Minister Song Mi-ryeong) and the Korea Agro-Fisheries Food Trade Corporation (Acting President Kim Chang-guk, aT) are currently increasing the use of private warehouses in consideration of current supply and demand conditions and product-specific characteristics; however, they plan to review the establishment of new stockpiling bases commensurate with appropriate reserve volumes in the future. Public stockpiling bases are warehouses that play a role in regulating the supply and demand of agricultural products by storing and releasing agricultural goods purchased or imported by the government. Currently, out of a total of 14 locations, the government owns 8 and aT owns 6. Of these, the portion owned by aT is 19

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