soybean field

USSEC, Korean Fish Growers Welcome Budget Increase Allocated for Environmentally Friendly Feed

USSEC applauds a recent budget increase passed by the Korean government benefiting Korean fish growers.  The Korean national assembly passed a budget bill in January to provide financial support for fish growers who switched their feed to protein meal-based extruded feed from fish-based moist pellet feed.  The total budget was increased two-fold and provides an additional $15 million over last year’s budget.  Almost all of the target flounder growers in Pyosun, Jeju-do and UIjin and Youngduk, Gyeongsangbuk-do provinces who participated in last year’s program are expected to continue this year.  The number of new fish growers participating is expected to increase due to the expanded budget.  Area coverage that was limited to the Pyosun region will be expanded to all other regions, particularly Jeju-do, to help stimulate the switch to extruded feed.  Applications for this program are due by February 14.

In anticipation of the growth of the extruded feed market, USSEC is preparing to conduct a flounder feeding demonstration to demonstrate the feasibility of soy protein concentrate as a protein source.  This demonstration, funded by the Kentucky QSSB, will take place from April to September.