Cost to Produce One Sack of Rice 31,082 Won... Increase of 1,910 Won

'2020 Rice Production Cost Survey Results'
Total Rice Income Up 5.5%... Net Profit Margin and Income Rate Also Increased

[Asia Economy Reporter Jang Sehee] The cost of producing one sack (20kg) of rice increased by 6.5% compared to a year ago, reaching 31,082 KRW.

According to Statistics Korea's "2020 Paddy (Rice) Production Cost Survey Results," the production cost per 20kg of rice was 31,082 KRW, showing a 6.5% (1,910 KRW) increase compared to the previous year.

This is because production volume decreased while production costs increased. The production cost per 10a of paddy rice increased by 0.1%, whereas the rice yield per 10a decreased by 5.8%.

The production cost per 10a of paddy rice was 773,658 KRW, a 0.1% (452 KRW) increase from the previous year. Among direct production costs, labor costs decreased by 3.4%, while indirect production costs increased by 6.5% due to the rise in land service fees caused by higher paddy rice prices at production sites.

Meanwhile, although rice production decreased, farmers' income increased due to the rise in paddy rice prices at production sites.

Total revenue per 10a of paddy rice was 1,216,248 KRW, up 5.5% (63,668 KRW) from the previous year. Net profit margin and income rate also rose by 2.3 percentage points and 3.5 percentage points, respectively, reaching 60.2% and 36.4%.

This content was produced with the assistance of AI translation services.