Governmental Purchase of Beans(Beans, Adzuki Beans, and Mung Beans)
Targets : Farmers
Bean is the major supply source of vegetable protein and has the second largest cultivation area following that of rice among crops in Korea. Beans are consumed in various forms such as Jang (Korean sauce), tofu and bean sprouts in addition to choice beans that are cooked as they are. In preparation to the imbalance of supply and demand of international grains, a certain level of self-sufficiency rate was required, and in 1968, the annual governmental purchase of beans began. * Purchasing policy has been operated from 1986 to 1997 for red beans and mung beans, but in 2016, a trial purchasing policy was introduced.
The government purchases beans at designated prices, to secure sales channels for farms, and create a stable production condition by supporting price.
It also pursues stabilized market price by reserving stock holdings for certain amount of beans and releasing beans in case of an instable supply and deamd situation.
Beans produced by farmers under governmental purchasing contract are purchased at the governmental purchasing price that has been notified in advance
Purchasing Items: Soybeans, bean sprout beans, red beans and mung beans produced in the same year
Purchasing Volume: 60,600 tons (60,000 beans, 400 red beans and 200 mung beans) planned for 2019 * Purchase the entire amount of beans produced according to the 2019 project to support cultivatio of crops other than rice in paddy fields
Agreement: Establish smooth agricultural plans and provide stable production conditions by entering contract between Nonghyup Economy Holdings (local Nonghyup) and cultivating farms (applicants) before seedtime of beans
Agreement Period: March 11, 2019 - June 28, 2019
Purchasing and Sales Period: November 1, 2019 - January 31, 2020
Article 13 of the Act on Distribution and Price Stabilization of Agricultural and Fishery Products, and Management Regulations for Governmental Stock Holding Project