Trade and markets
 

Detail

Area
Republic of Korea
Commodity Group
Rice
Commodity
All
Date
12/09/2016
Policy Category
Stocks
Policy Instrument
Government procurement
Description
Announced that the government would purchase 390 000 tonnes of rice from the 2016 harvest to stabilize local quotations. Payment for these purchases would be issued in advance, with the volume comprising 360 000 tonnes of rice, as part of the Public Rice Stockholding Program, and 30 000 tonnes as the country\'s contribution to the ASEAN Plus Three Emergency Rice Reserve (APTERR). Additional support measures would include loans to aid processors’ purchase of local supplies, and steps to encourage greater export and use of rice for non-food purposes.