Rice Variable Direct Payment to be Issued from the 26th... 5,480 Won per 80kg

[Asia Economy Reporter Kim Hyunjung] The Ministry of Agriculture, Food and Rural Affairs announced on the 25th that it will begin paying the 2019 rice price fluctuation direct payments through each city, county, and district starting from the 26th.

This follows the payment of the 2018 rice price fluctuation direct payments in January (23rd?26th). After the average rice price during the 2019 harvest season (October 2019 to January 2020) was finalized at the end of January, the payment unit price per 80kg was officially announced, and the rice price fluctuation direct payments are now being disbursed accordingly.

The payment unit price for the 2019 rice price fluctuation direct payments is 5,480 KRW per 80kg (367,160 KRW per 1ha), with a total payment amounting to 233.6 billion KRW. The number of farmers receiving payments is 641,000 (636,000ha), and the average payment per person is approximately 364,000 KRW.

The total payment area and number of farmers decreased by 18,000ha and 9,000 people respectively compared to the 2018 rice crop, while the average payment area per person remained similar to the previous year at 0.99ha.

Including the harvest season rice price and fixed direct payments, the total amount received by farmers for this rice price fluctuation direct payment is 210,399 KRW per 80kg, which is 98.3% of the target price (214,000 KRW/80kg), thereby stably maintaining farm income.

Meanwhile, the Ministry of Agriculture, Food and Rural Affairs has been promoting the legislative notice of the "Ordinance on the Enforcement of the Act on the Preservation of Agricultural Income"?a complete revision of the enforcement decree and enforcement rules necessary for the implementation of the "Agricultural and Rural Public Interest Direct Payment Act" promulgated on December 31 last year?for 40 days starting from the 21st. Once the "Agricultural and Rural Public Interest Direct Payment Act" is enforced in May, the rice price fluctuation direct payments will be integrated into the public interest direct payment system.