Gyeongnam Provincial Council's Proposal to the Government on '2021 Excess Rice Production Market Isolation'

Gyeongnam Provincial Council Agriculture, Fisheries and Marine Affairs Committee.
Photo by Gyeongnam Provincial Council

[Asia Economy Yeongnam Reporting Headquarters Reporter Ju Cheol-in] The Agriculture, Fisheries and Maritime Committee of the Gyeongnam Provincial Council held a meeting on the 30th and adopted the "Government Proposal Urging Early Market Isolation of Oversupplied Rice Due to Excess Production in 2021."

The proposal contains a call for the government to take preemptive measures as rice prices are expected to fall due to excess rice production, causing difficulties for farmers.

The Agriculture, Fisheries and Maritime Committee explained that nationwide rice production this year reached 3.882 million tons, exceeding the expected demand of 3.57 to 3.62 million tons.

When production exceeds demand by 7 to 8%, it meets the "market isolation" conditions specified in the government guidelines on "Establishment and Implementation of Grain Supply and Demand Stabilization Measures," but the government has hesitated to intervene citing price stability, the committee reported.

Ok Eun-sook, chairperson of the Agriculture, Fisheries and Maritime Committee, said, "Although farmers' difficulties have increased due to the spread of COVID-19, the government is trying to solve the problem solely through economic and market logic, so we adopted this proposal," adding, "We will do our best to prepare alternatives together with farmers until the government decides to take additional purchase measures for the excess rice production."