[2025 Audit] Song Miryung: "Rice Prices to Remain Higher Than Previous Years During Harvest... Focus on Stabilizing Supply and Demand"

National Assembly Audit by the Agriculture, Food, Rural Affairs, Oceans and Fisheries Committee
"Livestock, Processed Food, and Dining-Out Prices Higher Than Last Year"
"We Will Transform the Structure of Agricultural Production and Distribution"

The government has announced plans to focus on stabilizing the rice supply this harvest season, anticipating that rice prices will remain high this year. For livestock products, processed foods, and dining-out prices-which have also stayed at higher levels than the previous year-the government intends to ease consumer price burdens through discount events and public delivery apps. Additionally, efforts will be made to improve the production and distribution structure of agricultural products by establishing a stable system for the production and supply of agricultural and food products.

On October 14, Song Miryung, Minister of Agriculture, Food and Rural Affairs, stated at the National Assembly’s Agriculture, Food, Rural Affairs, Oceans and Fisheries Committee audit, “As of October 5, the producer price of rice was 247,952 won per 80 kilograms, and it is expected to remain higher than last year and the average during the harvest season. We will closely monitor the supply and demand situation and make every effort to implement the harvest season measures announced yesterday.”

Song Miryung, Minister of Agriculture, Food and Rural Affairs. (File photo)

The producer price of rice refers to the price at which rice is milled and sold at Rice Processing Complexes (RPCs) nationwide. As the producer price of rice has risen, consumer prices have also surged. According to the Korea Agro-Fisheries & Food Trade Corporation (aT), as of October 10, the retail price for 20 kilograms stood at 67,351 won, up 27.1% from the same period last year (52,980 won). When converted to 80 kilograms, this amounts to 269,404 won.

With the sharp rise in rice prices, the government has significantly reduced the volume of rice isolated from the market this year. Last year, to prevent an excessive drop in rice prices during the 2024 harvest season, the government planned to isolate 200,000 tons from the market, more than the surplus production. However, this year, only 100,000 tons will be isolated, which is 60% of the expected surplus rice volume of 165,000 tons for 2025. Of the 100,000 tons to be isolated, 55,000 tons are government grain loans returned since the end of August this year, and with the use of some rice restricted for processing purposes, only 45,000 tons will be isolated from the table rice market.

Minister Song also pledged to make every effort to stabilize the supply and demand of agricultural and food products. She said, “In the short term, we will secure the maximum possible supply for items expected to face supply instability and respond flexibly. We will also alleviate consumer price burdens for agricultural, food, and dining-out products through discount events and public delivery apps. Fundamentally, we will transform the structure of agricultural production and distribution by improving agricultural productivity, responding to climate change, enhancing the agricultural product distribution system, and strengthening global supply chains.”

The Ministry of Agriculture, Food and Rural Affairs is also actively promoting the rural basic income support and solar income village projects, which are key initiatives under the Lee Jaemyung administration. Minister Song stated, “Starting next year, we will pilot rural basic income support for about six counties in areas with declining populations over a two-year period, and we will develop the direction of the main project based on monitoring and performance analysis. For the solar income village project, where solar power revenue generated from public land is shared with residents, we will select ten locations this year for pilot operation and expand the program thereafter.”