Due to Falling Mountain Rice Prices... Ministry of Agriculture, Food and Rural Affairs Requests "Refrain from Excessive Low-Price Rice Sales"

On the 5th, the Ministry of Agriculture, Food and Rural Affairs visited the public stockpiled rice purchase site located in Buan-gun, Jeollabuk-do, and met with stakeholders including local distribution companies to urge their active role in maintaining an appropriate level of rice prices.

Earlier, the Ministry announced measures such as ▲no public auction under the current situation ▲full purchase of public stockpiled paddy rice ▲disposal of 400,000 tons of government grain for feed use ▲recognition of rough rice transactions in the evaluation of the contribution of Rice Processing Complexes (RPC) ▲additional purchase of 50,000 tons of private stock for food aid promotion.

However, despite these measures, the local rice price (as of the 25th of last month) recorded 49,655 KRW per 20 kg and 198,620 KRW per 80 kg, falling short of the government's target of 200,000 KRW per 80 kg set for this year.

Park Su-jin, Director of the Food Policy Office at the Ministry of Agriculture, Food and Rural Affairs, who visited the site that day, stated, "Although the cultivation area and production volume of rice decreased this year, the recent temporary inventory burden on local distribution companies and the spread of anxiety on site have led to a decline in local rice prices. We are steadily implementing the rice price stabilization measures announced on the 8th of last month, including the full purchase of 120,000 tons of paddy rice and the special disposal of 400,000 tons of government grain for feed use. If the plan to utilize 50,000 tons of private stock for aid is added, local rice prices will be able to stabilize."

Following this, Director Park held a meeting with local distribution companies at Buan Central Nonghyup and requested, "Please decide the rice purchase price at an appropriate level and refrain from excessive low-price sales of rice to stabilize rice prices on site."

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