The government has decided to thoroughly examine the overall shipping and distribution of agricultural and marine products, such as eggs, which have high price volatility. The plan is to investigate the causes of price surges and take strict measures according to relevant laws if unfair practices such as collusion are confirmed.
The Ministry of Economy and Finance held the '44th Vice Ministerial Meeting on Prices' on the 25th, chaired by Vice Minister Bom Kim, to discuss the price response plan. Vice Minister Kim noted, "The burden of prices on the grocery basket continues due to weather conditions," and stated, "We will continuously monitor the supply and demand situation of agricultural and marine products to alleviate the feeling of price increases."
The government has also pledged to devote full efforts to the growth management of the fruits damaged by the recent wildfires in the Yeongnam region. According to current assessments, 1.4% of the apple cultivation area and 0.6% of peach cultivation have been reported as damaged. The government plans to minimize shipment delays by supporting growth promotion agents along with managing the flowering period.
In particular, the government has decided to immediately conduct on-site inspections regarding eggs, whose mountain prices have skyrocketed recently. They plan to investigate whether there are factors outside of supply and demand contributing to the price increase, and will respond according to relevant regulations if any unfair practices are confirmed.
Additionally, the government plans to centralize the egg price information through the Livestock Products Quality Assessment Institute and also to implement a system that mandates the reporting of actual transaction prices. This aims to enhance the transparency and reliability of the price formation process.
Meanwhile, regarding oil price responses, the government has decided to extend the subsidy support period for fuel tax linked subsidies currently applied to buses, taxis, freight trucks, and coastal cargo ships. This subsidy system, linked to the prices of diesel and compressed natural gas (CNG), will be extended for an additional two months until the end of June.