Visit to Yesan Integrated Rice Processing Complex in Chungnam
Addressing On-site Concerns Due to Falling Rice Prices
Song Miryeong, Minister of Agriculture, Food and Rural Affairs, visited the Yesan Integrated Rice Processing Complex (RPC) in Chungcheongnam-do on the 29th to gather on-site opinions on rice supply and demand management measures and expressed a commitment to stabilizing rice prices.
Minister Song stated, "To stabilize rice prices this year, we will proactively reduce the rice cultivation area through appropriate production measures centered on the expansion and reorganization of the strategic crop direct payment system, while also promoting proactive supply and demand management measures such as operating a scientific supply and demand forecasting and monitoring system."
This visit was conducted to alleviate on-site concerns following the recent decline in rice prices.
Rice prices maintained around 200,000 KRW per 80kg sack during last year's harvest season, but recently, the farm gate price has been recorded below 200,000 KRW per sack.
The government has announced two measures to maintain stable rice prices. It plans to complete the government purchase of all paddy rice by the end of this month and supply 400,000 tons of government rice to companies for processing into feed. The 50,000 tons allocated for food aid by the Nonghyup has also been distributed regionally and is being purchased by the government.
Going forward, the government will closely monitor rice price trends and, based on opinions raised during field visits, will consult with related ministries to prepare additional measures to stabilize rice prices.
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