Jindo-gun Provides Purchase Compensation Support Funds to Rice-Producing Farms

Published 18 Oct.2023 16:08(KST)

Proactive Measures in Response to the Reduction of Government Purchase Volume of Publicly Stockpiled Rice

Jindo-gun, Jeollanam-do (Governor Kim Hee-su) will provide rice production farm purchase compensation subsidies to rice farming households in the region.

According to the county on the 18th, the rice production farm purchase compensation subsidy is due to the reduction of the government purchase volume of public stockpiled rice from 450,000 tons last year to 400,000 tons, resulting in an overall decrease in the local government purchase allocation volume.

Jindo-gun Government Office Exterior View

Accordingly, to stabilize rice prices and prevent the spread of anxiety among farmers regarding rice sales, it was decided to provide rice production farm purchase compensation subsidies.

The eligible recipients are rice farming households (including reclaimed land rice farming) with addresses in the region as of January 1, 2023, and applications can be submitted at the local town or township offices from the 23rd of this month until the 17th of next month.

The subsidy will be paid at 178,000 KRW per hectare based on this year's rice cultivation area of 5,596 hectares, and the payment rate will be adjusted according to the cultivation area within a budget limit of 1 billion KRW.

In addition, to create new demand for rice by substituting imported wheat flour, all production of rice flour cultivated for the first time this year (13,674 bags / 40kg) will be purchased, and the purchase schedule for general rice (based on bagged rice) will be finalized this year through consultations with townships, the Agricultural Products Quality Management Service Jindo Office, and local agricultural cooperatives.

A representative from the Jindo-gun Agricultural Support Division stated, “We are exploring various ways to help stabilize rice prices and increase farmers' actual income, including the payment of purchase compensation subsidies. We will do our best to secure a solid rice industry foundation by stabilizing rice supply and demand and maintaining appropriate income for rice farming households.”