This Year, 25,000 Tons of Domestic Wheat to be Publicly Stockpiled... 6,000 Tons More Than Last Year

Starting Purchases from Pre-Agreed Volume for 10 Weeks
Full Introduction of 'Quality Control Standards'... Grade Regulations and Purchase Prices Changed

The government has decided to purchase 25,000 tons of domestically produced wheat for public stockpiling, an increase of 6,000 tons compared to last year.

The Ministry of Agriculture, Food and Rural Affairs announced on the 6th that it has established and will promote the 2024 public stockpiling plan for domestic wheat to stabilize supply and ensure food security.

An official from the ministry stated, "We are expanding the public stockpiling of domestic wheat every year to encourage stable production and supply and to expand the consumer base. This year's public stockpiling plan volume is 25,000 tons, about 6,000 tons more than last year's 18,900 tons. The purchased varieties are Geumgang, Saegeumgang, and Baekgang, three varieties distributed by the government as certified seeds."

This year’s public stockpiling purchase of domestic wheat will be conducted over a sufficiently long period compared to previous years, considering the expansion of specialized production complexes and the increase in stockpiling volume. The purchase period is about 10 weeks, from June 17 to August 23.

Starting with this year’s government stockpiling purchase of domestic wheat, a quality management standard established to improve wheat quality and expand demand will be applied. This standard categorizes wheat by use (baking and noodle-making) and subdivides grades based on key quality factors such as protein content, test weight (weight of 1 liter of wheat), and ash content (minerals other than starch and protein).

Until now, government stockpiling of domestic wheat was purchased at the same price regardless of use or variety, making it difficult to use for specific purposes such as noodle-making or baking, and some varieties with high production cycles were overproduced. Therefore, since 2021, new quality management standards have been developed through research by specialized institutions and consultations with producers and consumers. The standards apply protein content and ash content criteria suitable for each use (baking and noodle-making), and quality grades have been subdivided (from good/average to Grade 1, Grade 2, and Grade 3) to meet consumer demands.

The price per 40 kg for Grade 1 baking varieties (Geumgang and Baekgang), which have high demand but are difficult to cultivate, has been raised by 1,000 KRW (2.5%) from last year to 40,000 KRW, while the Grade 1 noodle-making variety (Saegeumgang) maintains last year’s price of 39,000 KRW. Meanwhile, to ease the burden on farmers and prevent confusion in the agricultural field due to the introduction of the new quality standards, the price for Grade 2 has been set higher than last year (38,000 KRW for baking varieties and 37,000 KRW for noodle-making varieties), and Grade 3 (36,000 KRW for baking varieties) has been newly established. Additionally, the purchase price for eco-friendly (organic and pesticide-free) wheat has been subdivided by quality grade (from a single grade to Grade 1 and Grade 2) to establish a high-quality eco-friendly wheat management system.

Choi Myung-cheol, Director of Food Policy at the Ministry of Agriculture, Food and Rural Affairs, said, "Wheat cultivation is increasing significantly due to the introduction of the Wheat Industry Promotion Act and the implementation of the strategic crop direct payment system. The government will gradually expand public stockpiling of domestic wheat and encourage the production of high-quality wheat that meets consumer demands. At the same time, we will increase policy support to ensure the stable expansion of the domestic wheat industry through discovering new demand, expanding contract cultivation, and supporting milling costs."