[Asia Economy Reporter Hyungsoo Park] Easy Holdings is showing strong performance. Amid strengthening food protectionism in various countries, news that the governments of Vietnam and Thailand, major rice-exporting countries, are discussing raising rice export prices seems to be influencing the stock price.
As of 9:48 AM on the 30th, Easy Holdings is trading at 5,080 KRW, up 11.14% compared to the previous trading day.
Major foreign media reported that, compared to soaring wheat prices, rice prices remain low, leading senior officials from the Ministries of Agriculture of Vietnam and Thailand to meet and discuss raising rice export prices.
The Thai government stated that while production costs continue to rise, the global market price of rice has remained at around $300 to $400 per ton for over 20 years, and that raising rice export prices would contribute to increasing the income of farmers in both countries.
The International Monetary Fund (IMF) reported that since the Ukraine war, more than 30 countries have restricted exports of food, energy, and other major raw materials.
There is also news that India, the world's largest rice exporter, may increase its rice reserves instead of wheat to stabilize food prices. If Indian rice exports are banned, a sharp rise in international rice prices is inevitable, which is expected to increase the global population suffering from hunger by millions.
According to the Financial Supervisory Service's electronic disclosure system, Easy Holdings holds a 71.52% stake in the agricultural corporation Saedeulman. Saedeulman operates large-scale farming projects in the reclaimed land of Seosan, using high-quality compost fermented from pig manure. They produce environmentally friendly rice and realize natural circulation agriculture where livestock and farming coexist.
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