Korean media: The price of rice plummeted, the Korean government purchased 450,000 tons of rice to stabilize the price, the highest in history
[Global Times Comprehensive Report] According to a report by Yonhap News Agency on the 25th, in order to stabilize the recently plummeted rice price, the South Korean government decided to purchase 450,000 tons of rice and isolate it from the market, the largest scale in history.
The "Chosun Ilbo" explained that the rice "market isolation" measure refers to the agricultural association's purchase of rice that exceeds domestic demand, and the funds are subsidized by the government.
South Korea's ruling National Power Party spokesman Park Zhenghe announced the above decision at a press conference on the 25th, saying that to prevent the price of rice from plummeting, the government will invest about 1 trillion won (about 5 billion yuan) to acquire 25 million yuan that exceeded demand expectations this year. 10,000 tons of new rice, and an additional 200,000 tons of old rice.
Park Zhenghe also said that from next year, a direct subsidy system will be adopted for strategic crops, and the cultivation of rice, wheat, soybeans and coarse grains will be expanded, so as to ensure the balance of market supply and demand and strengthen food security.
The price of rice in South Korea has plummeted to the lowest level in nearly 45 years.
According to the Ministry of Agriculture, Forestry, Livestock and Foodstuffs, the price of rice has fallen since October last year.
In September this year, every 20 kilograms of rice was 40,725 won, down 24.9% year-on-year, the largest decline since relevant statistics were available.
They believe that with this acquisition, the price of rice will return to an appropriate level.
In addition, the South Korean government also plans to purchase 450,000 tons of rice in the name of "public reserve rice", and the rice purchased by the government will total 900,000 tons, equivalent to 23.3% of this year's output.
(Han Wen)