Assemblyman Seo Samsuk Holds Policy Forum on Measures to Stabilize Rice Supply and Demand

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[Asia Economy Honam Reporting Headquarters Reporter Choi Jae-kyung] Seo Sam-seok, a member of the National Assembly Agriculture, Forestry, Livestock, Food, and Maritime Affairs Committee from the Democratic Party (Yeongam·Muan·Shinan), held a policy forum titled “Policy Discussion for Establishing Fundamental Rice Supply and Demand Stability Measures” today (26th) at the National Assembly Library Small Conference Room.

This forum was co-hosted by Democratic Party members Lee Gae-ho, Kim Seung-nam, Uh Ki-gu, Yoon Jae-gap, and Lee Won-taek, and was organized by the Korea Federation of Agricultural Management Associations.

Member Seo explained that, following last year, concerns over the decline in rice prices are growing again this year, and the forum was held to prepare effective mid- to long-term measures for stabilizing supply and demand and for a sustainable rice industry.

The event was chaired by Lee Jung-hwan, Chairman of GS&J Institute, and featured a keynote presentation by Kim Jong-in, a research fellow at the Korea Rural Economic Institute, on “Suggestions for Establishing Rice Supply and Demand Stability Measures.”

Discussants included Park Soo-jin, Director of Food Policy at the Ministry of Agriculture, Food and Rural Affairs; Moon Byung-wan, President of Boseong Nonghyup; Seo Yong-ryu, Executive Director of the Private RPC Council; Kang Do-young, President of the Jeollanam-do Federation of the Korea Federation of Agricultural Management Associations; and Park Dong-gyu, Senior Economist at the Korea Rural Economic Institute.

Research fellow Kim Jong-in, who gave the keynote, stated, “Since 2000, domestic rice production has shifted to oversupply, and the trend of decreasing rice consumption has also become prominent,” adding, “Various policies are needed, such as improving rice quality through the expansion of single varieties, expanding demand for processed rice through variety development, and supporting the cultivation of other crops.”

In the discussion, Park Soo-jin, Director of Food Policy at the Ministry of Agriculture, Food and Rural Affairs, said, “In response to the decline in farm-gate rice prices, the government is negotiating market isolation for the remaining quantity excluding the first completed 145,000 tons out of the 270,000 tons scheduled for isolation last year,” and added, “Fundamentally, we will strive to resolve structural oversupply through appropriate rice production and consumption expansion.”

Member Seo Sam-seok said, “In the poor domestic food self-sufficiency situation, the rise in grain prices due to the COVID-19 pandemic and international conflicts makes recovery measures for Korean rural areas more urgent than ever,” emphasizing, “For the sustainability of agriculture and fisheries in serious crisis, a government perception shift recognizing the public value of this life industry is urgently needed.”

He continued, “To resolve the issue of declining farm-gate rice prices, prompt market isolation measures for the remaining quantity and legal and institutional improvements to enable mandatory rice market isolation when certain conditions are met are necessary.”

Meanwhile, Member Seo Sam-seok introduced a revision bill to the “Grain Management Act” last December, which mandates government purchase if the excess rice production exceeds 3% of demand or if prices fall by more than 5% compared to the previous year. The bill is currently pending in the National Assembly Agriculture, Food, Rural Affairs, Oceans and Fisheries Committee.

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