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Reasons for Unbalance in Raw Milk Supply and Demand, and the Policy Implications for Dairy Industry

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  • Sung, Donghyun

Abstract

This paper examines the cause of increasing milk powder stocks, analyze the effects of current dairy policy, and suggests the dairy policy to stabilize the milk supply and demand in Korea. One cause of unbalanced milk supply and demand is non-flexible farmgate pricing system not depending on the utilization situations. Also, consumption of fluid milk have stagnated since last decade. Korea Dairy Committee have overextended the milk collecting to one system under the Committee. For alleviating this problem, government have taken actions of slaughtering milking cows, differentiating the pricing system of oversupplied milk, and terminating the dairy farm enterprises. These policies have effects in the short-run, however, this analysis showed that the essential problem of current situation could not be solved in the long-run. As a way of resolving the current oversupply of raw milk, it would be considered that the improvement of raw milk pricing system.

Suggested Citation

  • Sung, Donghyun, 2003. "Reasons for Unbalance in Raw Milk Supply and Demand, and the Policy Implications for Dairy Industry," Journal of Rural Development/Nongchon-Gyeongje, Korea Rural Economic Institute, vol. 26(4), December.
    • Handle: RePEc:ags:jordng:288196
    DOI: 10.22004/ag.econ.288196
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    Keywords

    Livestock Production/Industries;

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