21,000 tons allocated first to tofu and soy milk makers as raw material; discount-sale supplies to follow from late June — 16 companies pledge to prevent unauthorized distribution

Soybeans [Getty Images Bank]
Soybeans [Getty Images Bank]

The government plans to release 65,000 tons of stockpiled domestic soybeans to food companies this year to stabilize raw material supplies for the tofu and soy milk industries. It will first supply 21,000 tons for use as raw material, then roll out additional volumes from late June to support price stability and boost consumption.

The Ministry of Agriculture, Food and Rural Affairs held a meeting Thursday at the aT Center in Seoul with tofu and soy milk manufacturers that use government-supplied domestic soybeans, to discuss expanding their use of domestically grown beans.

The government's total supply target for stockpiled domestic soybeans this year stands at 65,000 tons. Of that, 21,000 tons designated for use as raw material — which companies may blend with imported soybeans — have been allocated first to 16 food companies.

The ministry said the supply is intended to ease the burden on food companies securing raw materials while broadening the consumption base for domestic soybeans. It also expects the release of stockpiled volumes to help reduce inventory pressure.

At Thursday's meeting, participants shared the current status of soybean supplies by company and gathered feedback on difficulties encountered in sourcing raw materials, along with suggestions for improving the supply system.

Attending companies also signed a pledge to prevent unauthorized distribution, committing to ensure that government-supplied soybeans are not used outside their designated purposes or diverted to the open market. The ministry said it would strengthen its management system for government-supplied volumes to maintain orderly distribution.

Following the raw-material allocation, the ministry plans to supply an additional 44,000 tons from late June on a rolling basis to companies offering discounted domestic soybean products, as well as to those creating new demand.

"Expanding the consumption base for domestic soybeans is a critical task for producers and the food industry to grow together," said Jeong Hye-ryeon, the ministry's food policy director. "We will continue to support food companies in using domestic soybeans to achieve stable supply management and drive consumption growth."


adastra@heraldcorp.com