Imports lowered to appease farmers, avoid pork crunch

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Imports lowered to appease farmers, avoid pork crunch

Korea’s main association of pork farmers canceled its plan to stop distributing the meat yesterday as the government scaled back its plan to import tariff-free pork during the second quarter of this year by more than 70 percent.

The agreement staved off an almost-certain pork crunch in the country.

According to the Ministry for Food, Agriculture, Forestry and Fisheries, the Korea Swine Association nixed its plan to stop supplying pork as of yesterday after the government accommodated farmers’ demands on Sunday. Seoul reduced its zero-tariff pork imports between April and June from 70,000 tons to 20,000 tons.

Moreover, the government agreed to earmark 100 billion won ($88.7 million) for buying up pork when the price of the meat falls below production costs.

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