Jeonnam Governor Kim Young-rok Orders Support Measures for Rice Price Decline

[Muan=Asia Economy Honam Reporting Headquarters, Reporter Yoon Jamin] Kim Young-rok, Governor of Jeonnam Province, has instructed to prepare support measures in response to the decline in rice prices.

According to Jeonnam Province on the 11th, Governor Kim visited the Yeongam Integrated Rice Processing Center, which has been struggling due to the continuous decline in rice prices, to check the stock situation of rice and listen to the difficulties caused by the drop in farm-gate rice prices.

The farm-gate rice price has continuously declined since recording 227,212 KRW per 80kg on October 5 last year.

Even after the government recently announced the third market isolation decision for about 100,000 tons, as of the 5th, the farm-gate rice price fell below 180,000 KRW for the first time since 2018, recording 179,404 KRW per 80kg.

Baek Young-soo, CEO of Yeongam Integrated Rice Processing Center, stated, "Rice prices have steadily declined compared to the price of rice purchased from farmers last year, and stocks have increased, causing great difficulties in management."

Governor Kim said, "Production costs are rising every year, but rice prices continue to fall due to decreased demand, making conditions difficult for rice-producing farms every year. Since rice prices are an important part of farm income, we will continuously urge the government to establish fundamental measures for rice supply and price stabilization."

He also urged related officials, "Carefully check the rice stock situation and prepare provincial-level support plans for integrated rice processing centers and others suffering from price declines."

He added, "We will prepare and implement a comprehensive rice promotion plan from production to final consumption. The NongHyup (National Agricultural Cooperative Federation) should actively promote the excellence of Jeonnam rice and carry out activities to stimulate rice consumption."

Jeonnam Province plans to establish a comprehensive plan to foster the high-quality rice industry, expanding the cultivation of high-quality rice within the province, and actively promoting and marketing to expand sales networks to enhance accessibility for consumers in the metropolitan area.

In particular, to strengthen the market competitiveness of Jeonnam rice in the second half of the year, new projects such as support for small packaging materials, support for eco-friendly rice at senior centers to secure rice consumption channels, and support for rice purchase containers to reduce farmers' labor will be launched.

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