Jeonnam Province Requests Government to Isolate Excess Rice Supply from Market

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[Muan=Asia Economy Honam Reporting Headquarters, Reporter Yoon Jamin] Jeonnam Province recently decided to strongly urge the government to promptly isolate last year's excess production and local stockpiles from the market as the price of mountain-grown rice has fallen to 196,000 won (per 80kg), and to jointly respond with local political circles to stabilize rice prices.

At the policy meeting of department heads on the 5th, the province called for government attention as global grain prices have been rising due to the Russia-Ukraine situation, while rice prices have been declining, falling below 200,000 won, triggering warning signs.

A Jeonnam Province official said, "With the farming season approaching, the downward trend in rice prices is worrisome, and it seems the government’s attention is insufficient. Although 270,000 tons were overproduced last year, the government only planned to isolate 200,000 tons, and the timing was late, at the end of December, which was insufficient to rebound rice prices."

He added, "Currently, the stock of mountain-grown rice is about 500,000 tons more than the previous year, causing prices to drop by about 17,000 won compared to last year’s harvest season. Especially, rice prices tend to fall easily but are not easy to rise again, so if this continues, the agricultural policy foundation could collapse. Therefore, it is necessary to fully collect farmers' opinions and strongly urge the government to prepare various measures such as expanding market isolation at the government level."

He also requested efforts to have regional pending projects adopted as national agenda items by the new government.

The Jeonnam Province official said, "Use all human networks including transition committee members, ministries, and political circles to ensure that various policy tasks, including the eight major tasks missing from the elected officials' pledges among pending issues such as the 'Top Jeonnam Future Strategy' leading regional future development, are reflected in the new government’s design. Also, please strive to have bills related to regional issues, such as the 'Special Act on the Promotion of Wind Power Generation' for carbon neutrality, passed in the April National Assembly," he added.

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