Ministry of Agriculture, Food and Rural Affairs to Purchase 100,000 Tons of Rice for Food Aid by April This Year... "Contributing to Rice Price Stability"

The government has decided to complete the purchase of 100,000 tons of rice for food aid by April, which is being promoted to stabilize rice prices during last year's harvest season.

The Ministry of Agriculture, Food and Rural Affairs announced on the 22nd that it is currently proceeding with purchases by allocating quantities to each company for the 50,000 tons announced last November, and plans to complete the purchase of an additional 50,000 tons by April to ensure smooth food aid.

Following the announcement last year to purchase 50,000 tons of private stock for food aid as part of measures to stabilize rice prices during the harvest season, the government decided in February this year through party-government consultations to purchase an additional 50,000 tons, utilizing a total of 100,000 tons for food aid this year.

Park Su-jin, Director of the Food Policy Office at the Ministry of Agriculture, Food and Rural Affairs, said, "If the government additionally purchases 100,000 tons of private stock for food aid, the supply and demand this year are expected to be stable," adding, "It is also expected to alleviate the inventory burden on local distribution companies."

Meanwhile, the price of rice at production sites, which had been continuously falling since the last harvest season, showed a steady trend at 193,500 won per 80kg as of the 15th.