"Government Rice Price Measures Are Ineffective, Rehashed, and Diluted" Fierce Criticism

Jeonnam Provincial Council Issues Statement Urging Measures
"Harvest Season Rice Prices Must Be Guaranteed at Least 200,000 Won"

Jeonnam Provincial Council member Kim Moon-su, chairman of the Agriculture, Fisheries and Livestock Committee, and other council members are issuing a statement on the 7th urging the government to prepare measures for rice prices during the harvest season. Provided by Jeonnam Provincial Council

On the 7th, the Jeollanam-do Provincial Council strongly criticized the government's harvest season rice price measures as ineffective "weak, recycled, and diluted" policies that have had no impact on raising rice prices, and issued a statement urging the formulation of effective countermeasures.

Kim Moon-su, Chairman of the Agriculture and Fisheries Committee of the Jeonnam Provincial Council (Democratic Party of Korea, Shinan 1), pointed out at a press conference that "In early October, the government praised itself for being proactive by announcing a pre-isolation of 200,000 tons of this year's rice, but since the policy excluded stockpiled rice, it failed to have any effective impact on raising rice prices."

He continued, "Even though anyone could foresee that last year's rice would disrupt this year's rice distribution market and cause rice prices to fall, the government came up with weak measures. Later, at the end of October, additional measures such as full purchase of all paddy rice (unsupplied) and support for rice purchase funds were announced, but these are merely dilutions," adding, "Despite the government purchasing 900,000 tons in 2022, rice prices continued to decline and only briefly rose during the 2023 harvest season. This past experience should serve as a lesson, and the government's complacent measures must be strongly criticized."

Chairman Kim added, "Considering the government's previously revealed errors in rice production statistics and forecasts, as well as the expected decrease in consumption next year, the government should now urgently announce effective measures including ▲additional market isolation of 200,000 tons (+α), ▲stockpiled rice isolation measures, and others, and must keep its promise to support rice prices above 200,000 won during the harvest season."

He strongly urged, "Since the harvest season rice price is a critical issue that determines the public reserve rice and the Agricultural Cooperative purchase price for farmers who have worked hard all year, I earnestly ask the government, responsible for grain supply and demand, to immediately announce effective measures that can raise rice prices, understanding the farmers' sorrowful feelings."

Meanwhile, the recent farm gate rice price is 183,000 won (80kg, as of October 25), continuing a downward trend since October 5 (188,000 won), and is 10.6% lower than around this time last year (205,000 won).