Trade and markets
 

Detail

Area
Republic of Korea
Commodity Group
Rice
Commodity
All
Date
30/12/2015
Policy Category
Production
Policy Instrument
Production adjustment program
Description
Announced that it would launch a production adjustment programme encouraging the gradual conversion of 88 000 hectares of paddies to other uses by 2018. The move is part of official efforts to stabilise the local market and ease oversupply problems associated with successive bumper harvests and declining consumption. Officials would also promote greater local consumption of rice as food, feed and industrial uses, as well as exports, in an attempt to reduce the size of the Government stockpile to 800 000 tonnes by October 2018.