On the 15th, the National Assembly's Agriculture, Food, Rural Affairs, Oceans and Fisheries Committee's bill review subcommittee room was thrown into chaos. A bill mandating market isolation to address the falling rice prices was suddenly passed with the opposition party's support. Although ruling party lawmakers protested, claiming there was no consensus among the committee members, they were overpowered by the majority. Breaking the precedent of 'zero snap votes,' the Democratic Party forcibly passed the Grain Management Act, placing the 'scholarly standing committee' at the center of political conflict.

[Image source=Yonhap News]

[Image source=Yonhap News]

View original image

These days, as food prices rise daily, the price of rice, the staple grain for Koreans, is instead continuing to fall. Since October last year, the farmgate price of rice has steadily declined and is currently below the average level. Rice farmers are experiencing a "double hardship" with both high inflation and reduced income. The photo shows the rice sales section at a large supermarket in Seoul. Photo by Kim Hyun-min kimhyun81@

These days, as food prices rise daily, the price of rice, the staple grain for Koreans, is instead continuing to fall. Since October last year, the farmgate price of rice has steadily declined and is currently below the average level. Rice farmers are experiencing a "double hardship" with both high inflation and reduced income. The photo shows the rice sales section at a large supermarket in Seoul. Photo by Kim Hyun-min kimhyun81@

View original image

The mandatory rice market isolation measure is a sensitive issue. While farmers express strong dissatisfaction during a price crash like the current one, consumers inevitably react sensitively when prices rise. However, both ruling and opposition parties have so far used this issue more for political conflict than serious discussion.


The People Power Party also made similar claims when it was in opposition, not much different from the current Democratic Party. Since the second half of last year, the National Assembly has urged measures for farmers, but at that time, the People Power Party criticized the government and ruling party for 'neglect.' Sung Il-jong, the People Power Party's Policy Committee Chair, said last year, "Why hasn't the Ministry of Agriculture, Food and Rural Affairs implemented the promised rice market isolation measures for farmers? We will take the lead in improving the system, including revising the lowest-price competitive bidding method."


However, this year, rice prices have plummeted to their lowest in 45 years. At 220 won per bowl of rice (100g), farmers who are plowing under rice fields with tractors instead of combines (grain harvesting machines) see no change despite the government changing. Then and now, they consistently call for 'rice price normalization.'


The problems arising from mandatory market isolation are not insignificant. The drop in rice prices fundamentally occurs because supply exceeds demand, and implementing automatic isolation could lead to expanded rice farming, further driving prices down. This means a burden on government finances. However, there was no serious approach to this issue at the subcommittee meeting the day before. The focus was solely on winning farmers' favor.



There can be no 'political conflict' in front of a warm bowl of rice after work. The ruling and opposition parties' disputes are just beginning. It is hoped that the 'battle over rice bowls' will include genuine consideration of the 'value of rice.'


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

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.

Today’s Briefing