The Politics of Soybean (5)

This is ridiculous.

Bulog asks for a permanent role in soybean import. That would mean they want a monopoly just like in the case of rice. If that is granted, it would be a setback. Currently soybean importation is open to general importers (IU). The fact that only four dominate the import reflects reluctance in the part of smaller importers who could not operate in the scale economies. The domestic shortage has resulted in sky rocket price. If the government wants to curb it, it could ask Bulog to import. Let's not forget, Bulog belongs to the government. Such import might not be the best option for a private company given the current situation, but again, let's not forget, Bulog belongs to the government: it's their job to take that risk. Not to use the situation to ask for monopoly.