450,000 Tons of This Year's Rice to Be Stockpiled... Soybean Stockpile Increased to 60,000 Tons

Public Stockpiling Plan Finalized for 2025
Rice Stockpile Maintained at 450,000 Tons
Soybean Reserve Increased to 60,000 Tons to Ensure Stable Supply

The government has decided to publicly stockpile 450,000 tons of rice harvested this year, maintaining the same level as last year. As soybean production has increased, the stockpiled amount for soybeans has been expanded to 60,000 tons.

The Ministry of Agriculture, Food and Rural Affairs announced on September 2 that it has finalized the "2025 Public Stockpiling Implementation Plan," including this year's public stockpiling purchase volume and purchase price, following approval by the Cabinet.

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The government operates a public stockpiling system to store major food crops in preparation for potential food shortages caused by climate change or natural disasters. The amount of rice to be stockpiled, as approved in the recent Cabinet meeting, is 450,000 tons, the same as last year. The soybean stockpile has been increased from 50,000 tons to 60,000 tons.

The purchase price will be determined at the end of the year by converting the average farm-gate price of rice during the harvest season (October to December) into the price for unhulled rice. Immediately after purchase, farmers will receive an interim settlement payment of 40,000 won per sack (based on 40kg of unhulled rice). Starting this year, if eco-friendly rice farmers wish, their entire harvest will be purchased as public stockpiled rice. This follows last year's policy of paying eco-friendly rice farmers an additional 5 percentage points per grade compared to conventional rice, and aims to further encourage the production of high-quality rice by expanding the purchase volume.

Of this year's total rice purchase volume, 50,000 tons will be earmarked for rice used for flour. The purchase volumes for each city and county were allocated in February, and for eco-friendly rice, allocation will be determined later, taking into account the timing of certification and other factors.

Eligible varieties for purchase are limited to two pre-designated varieties per city or county, such as Samgwang, Saecheongmu, and Ilpum, with high-yield varieties excluded. If farmers ship rice for public stockpiling using varieties other than those designated, they will be prohibited from participating in the public stockpiling program for the next five years.

Byun Sangmun, Director of Food Policy at the Ministry of Agriculture, Food and Rural Affairs, stated, "The public stockpiled rice purchased this year will be sold according to domestic supply and demand needs, including for military meals, processing, ethanol production, and food aid. With the soybean stockpile set at 60,000 tons in line with increased production, the soybean supply will also remain stable."

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