Government Grain Sales Prices Frozen for Vulnerable Groups... "To Alleviate Living Cost Burden"

Annual 5 Billion Won Level Additional Reduction in Living Expense Burden Expected

The Ministry of Agriculture, Food and Rural Affairs announced on the 1st that it will freeze the government rice sales prices for vulnerable groups such as basic livelihood security recipients at the previous year's level in 2024. This decision was made considering the recent ongoing price uncertainties, which have increased the living cost burden on low-income households.

The Ministry supplies government rice at discounted prices directly to households of vulnerable groups, including basic livelihood security recipients, through delivery services to ensure basic food supply and livelihood stability. Depending on the support target, rice is supplied at a discount ranging from 50% to 90% of the normal price.

An official from the Ministry explained, "The government rice sales price for vulnerable groups in 2024 has an upward factor of about 8% compared to the previous year due to the increased purchase cost of 2023 government rice. However, it was decided to freeze the price to alleviate the living cost burden on vulnerable groups."

The government rice sales price will increase from 25,310 KRW per 10kg in 2023 to 27,380 KRW in 2024. However, for basic livelihood security recipients eligible for livelihood and medical benefits, the price remains frozen at 2,500 KRW, and for those eligible for housing and education benefits, it remains at 10,000 KRW. Additionally, for near-poverty groups, single-parent families, and basic livelihood security facilities, prices remain the same as last year at 10,000 KRW and 12,650 KRW respectively.

Jeon Han-young, Director of Food Policy at the Ministry, stated, "By freezing the government rice sales price for vulnerable groups in 2024, we expect to further reduce the annual living cost burden by approximately 5 billion KRW. The government will continue to develop measures that citizens can feel directly and will do its best to provide high-quality government rice by thoroughly managing the entire process, including purchase, storage, management, processing, and sales."

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