South Korea will achieve $10 billion in exports of agricultural products in 2017 through fostering high quality and salable food products for foreign consumers, the ministry here said Friday.
In its annual policy plan reported to Acting President Hwang Kyo-ahn, the Ministry of Agriculture, Food and Rural Affairs said exports of farm products are expected to reach $7 billion this year, up from $6.5 billion tallied in 2016.
South Korea's Agriculture Minister Kim Jae-soo speaks at a press conference on the ministry's 2017 policy plan in Sejong on Jan. 5, 2017. (Yonhap)
Meanwhile, the government will support 50 percent of shipping costs for egg imports until Feb. 28 in a way to stabilize the soaring egg prices here. It estimated that some 900 million won will be spent to cover the program, noted the ministry.
Earlier, it announced a plan to remove tariffs on imported fresh eggs and egg products during the first six months of the year as the widespreading avian flu and the massive culling of chickens have pushed up local prices of eggs and other products such as bread, snacks and instant noodles.
"The government came up with the supporting program as we expect the supply shortage of eggs to last until the end of February," said the ministry. "We will watch the trend after February and seek further measures."
According to industry sources, a local retailer has reached a deal with a U.S. firm to import some 1.8 million fresh eggs, while 14 U.S. egg producers have sought approval from the South Korean quarantine authorities.
The Seoul government is in talks with its U.S. counterpart to open the quarantine procedures on fresh eggs as it is the first time that the country will import eggs from a foreign country, the ministry added. (Yonhap)
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