On June 28th, 2013, the Ministry of Strategy and Finance (MOSF) announced adjustments to tariff-rate quotas (TRQ) for the second half of 2013 on 12 agricultural and fishery products (Table I and II), in order to stabilize food prices affecting people’s daily cost of living expenses and to bring into balance supply and demand for essential commodities.
General Information:
The government extended its implementation period for 7 TRQ items (Table I) through December 31, 2013, which set to expire on June 30, 2013. The MOSF also reduced the in-quota tariff rate for feed materials including beet-pulp, cotton seed hulls, and other preparations of a kind used in animal feeding and animal fat for feed (Table II) to lighten the farming costs for livestock farms.Meanwhile, some TRQs in the first half of the year, including soybean oil, refined grape seed oil and rice bran oil are no longer applicable. Further information about TRQ administration from the first half of the year can be found in GAIN report KS1310.
Wheat, Maize and Sugar
The TRQ implementation period for wheat for milling, corn for processing, and other sugar products will be extended through December 31, 2013. The TRQ extension is being implemented in order to stabilize living costs and will facilitate the supply and demand of food commodities. Eels
The extended TRQ implementation period is intended to aid the eel farming industry.
