Gwangju City Completes Purchase of 2024 Public Reserve Rice Stocks

Gwangju City in Gyeonggi Province announced on the 8th that it purchased 94,160 kg of public reserve rice in sack form at the Twaechon-myeon Public Stadium and Manseon Sports Park in Gonjiam-eup on the 5th and 6th.

Gwangju Mayor Bang Se-hwan is inspecting the public stockpiled rice sack purchase sites at Toechon-myeon Public Stadium and Manseon Sports Park in Gonjiam-eup on the 6th. Provided by Gyeonggi Gwangju City

The purchase price of public reserve rice will be determined at the end of December based on the nationwide average farmgate rice price during the harvest season (October to December) surveyed by the Korea National Statistical Office.

An interim settlement payment of 40,000 KRW (for 40 kg), which is 10,000 KRW higher than last year, will be paid to farmers immediately after purchase, and the difference will be paid in a lump sum by the end of December once the rice price is finalized.

The 2023 prices per 40 kg sack are 72,440 KRW for premium grade, 70,120 KRW for first grade, and 67,010 KRW for second grade.

Meanwhile, Mayor Bang Se-hwan, who visited the public reserve rice purchase site early in the morning, listened to this year’s rice crop conditions and on-site difficulties, encouraging the farmers who have done their best in farming despite challenging conditions such as continuous rice price declines and climate change.

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