The government and Jeju Island form a consultative body to stabilize the supply and demand of bean sprouts to discuss stabilizing prices and sales channels.

The government and Jeju Island have launched a joint response to stabilize the price and sales channel of Jeju-produced bean sprout beans due to the increase in imported bean sprout volume.

Jeju Island and the Ministry of Agriculture, Food and Rural Affairs announced on the 10th that they have formed the 'Sprout and Demand Stabilization Council' and are discussing ways to stabilize supply and demand by jointly inspecting domestic production, imports, stockpiling and distribution.

The consultative body is composed of 18 people, including the government, producers, companies that use bean sprouts, experts, and related organizations.

The Food Policy Director of the Ministry of Agriculture, Food and Rural Affairs and the Director of Jeju Island's Food, Agriculture, Livestock, Food and Rural Affairs co-chair the committee, regularly inspecting domestic production, imports, stockpiling and distribution, and discussing supply and demand stabilization measures and mid- to long-term development plans for the domestic sprout industry.

The formation of this council is in response to the increase in bean sprout low tariff quota (TRQ) volume this year.

Low-rate tariff quota is a system that applies low tariffs to imports up to a certain amount and imposes high tariffs on quantities exceeding this amount. In Jeju, which accounts for about 80% of the nation's bean sprout production, concerns are being raised about falling prices and shrinking sales channels due to increased import volume.

The consultative body held its first meeting in Jeju on the 9th and focused on the impact that the increase in imports would have on the price and supply and demand of domestic sprouts.

Participants visited the Andeok Agricultural Cooperative soybean distribution and processing facility and inspected the production and distribution sites, then discussed the timing of supply of imported quantities to the market by the Jeju Provincial Office and measures to support bean sprout farmers in Jeju.

In particular, opinions were shared on ways to adjust the supply period of imported quantities by considering the shipment period of domestic sprouts and market conditions.

Regular meetings of the council are held four times a year, once every quarter. If there are significant changes in production, price, inventory, or import volume, regular meetings are also held.

If necessary, a working group is formed with working-level officials from participating organizations and organizations to understand the supply and demand situation and specify support measures.