Ministry of Agriculture, Food and Rural Affairs seeks cooperation with industry to stabilize processed food prices

On Friday, April 11, Vice Minister of Agriculture, Food and Rural Affairs Park Beom-soo visited Maeil Dairies’ Pyeongtaek plant, which produces dairy products and beverages, to discuss cooperation measures for stabilizing processed food prices.

  A Maeil Dairies official explained that while raw materials for dairy products such as milk and powdered milk are maintaining stable prices thanks to the smooth supply of domestic raw milk, the cost burden of some beverage products such as cup coffee is increasing due to the prices of imported raw materials such as coffee beans and cocoa powder, exchange rates, and rising labor costs.

  Accordingly, Vice Minister Park requested that the industry actively cooperate with the government’s price stabilization policy, as the government is pursuing policies such as applying quota tariffs to food raw materials, exempting import value-added tax, supporting raw material purchase funds, and conducting research and development (R&D) to reduce the industry’s cost burden. He also stated regarding the industry’s concerns over the recent reciprocal tariff measures by the United States, “We will find solutions together with our export companies and spare no effort in providing the support that companies need.”