SEOUL, January 07 (AJP) - South Korea will move to stabilize prices of fresh eggs and mackerel as part of broader efforts to curb rising living costs, the finance ministry said on Wednesday.
Deputy Prime Minister and Finance Minister Koo Yun-cheol said the government has begun procedures to import 2.24 million fresh eggs and supply them to the domestic market in January, responding to a growing cull of laying hens amid the spread of avian influenza.
Authorities will also consider lowering egg delivery prices depending on supply and demand conditions, he said.
In addition, the government plans to import more than 7 million fertilized eggs for broiler hatching to expand chicken supply.
To stabilize seafood prices, the government will support discounts of up to 60 percent on mackerel starting Wednesday, Koo said, adding that authorities plan to diversify import sources currently concentrated in Norway.
The government will also expand the release of stockpiled seafood in processed forms so products can be sold immediately to consumers.
Koo was speaking at a meeting held at the Government Complex Seoul, where officials discussed steps to strengthen price management and improve distribution.
Koo said the government would work with relevant ministries to structurally stabilize food prices and improve livestock distribution and competition, with a detailed plan to be announced next week.
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