Gangjin County Council Member Kim Chang-joo Calls for Urgent Measures to Prevent Rice Price Collapse

After Harvest Season, Local Rice Prices Drop by 18,932 KRW per 80kg in One Month

This Year's Government Target of 200,000 KRW per 80kg Broken... Rice Farmers Sigh

Government's Rice Supply Stabilization Measures Are Reactive, Not Proactive

The Gangjin County Council in Jeollanam-do finally approved the "Resolution Urging Measures to Prevent Rice Price Collapse and Establish Countermeasures," which was primarily proposed by Councilor Kim Chang-joo, at the 3rd plenary session of the 2nd regular meeting of the 295th Gangjin County Council held on the 19th.

While rice demand is decreasing, rice production continues to increase. Amid unstable international conditions such as the Russia-Ukraine war following COVID-19, rising oil prices, inflation, labor costs, and raw material prices have intensified farmers' difficulties. Any further decline in rice prices could push farmers into a desperate situation.

According to Statistics Korea, as of the 15th of last month, the farm-gate price of rice was 199,820 KRW per 80kg, and on the 25th, it was 198,620 KRW, continuing a downward trend and falling below the 200,000 KRW mark.

The proposal titled "Resolution to Urge Measures to Prevent Rice Price Collapse and Establish Countermeasures," sponsored by Representative Kim Chang-joo, was finally approved.
[Photo by Gangjin County Council]

After the harvest season, the farm-gate price of rice peaked at 217,552 KRW per 80kg in early October but dropped to 198,620 KRW last month, a decrease of 18,932 KRW (8.7%) within a month.

Councilor Kim Chang-joo stated, "This year, the government's promised rice price of 200,000 KRW per 80kg during the harvest season has collapsed, deepening the sighs of rice farmers."

Councilor Kim criticized, "It is unclear whether the government truly has the will to stabilize rice prices. If this situation continues, farmers responsible for our country's food security will no longer be able to sustain their livelihoods."

He continued, "Although the government announced rice price stabilization measures twice on the 8th and 29th of last month, these were merely makeshift measures aimed at the upcoming general election and utterly inadequate to stop the falling rice prices," and pointed out, "Despite reducing production volume and cultivation area to prevent rice overproduction this year, the government failed to prevent the price decline."

He added, "If the government fails to properly and timely prevent the rice price decline this time, a massive price crash similar to last year will be inevitable," emphasizing, "The government must demonstrate sincerity in preparing and implementing measures so that rice-producing farmers can focus on farming in a stable environment."

Councilor Kim Chang-joo urged the revision of the "Grain Management Act" to legally mandate the government's proactive market isolation measures in case of rice price decline and overproduction, and the introduction of an "Agricultural Product Price Stabilization System" that compensates a certain percentage of the difference when major agricultural products, including rice, fall below the minimum price, so that farmers can farm with peace of mind.

Meanwhile, the resolution adopted on this day is scheduled to be sent to the President, the Speaker of the National Assembly, the Prime Minister, the Minister of Strategy and Finance, the Minister of Agriculture, Food and Rural Affairs, the Jeollanam-do Provincial Council, and relevant city and county councils in Jeollanam-do.