Korea to foster local grain production to bolster food self-sufficiency

The Korea Times

The Korea Times

Business

Sat, September 23, 2023 | 13:56

Korea to foster local grain production to bolster food self-sufficiency

Posted : 2022-12-22 17:05

Updated : 2022-12-22 20:44

Kim Jung-hee, deputy minister for food grain policy, speaks during a press briefing at the Sejong Government Complex, Thursday. Courtesy of Ministry of Agriculture, Food and Rural Affairs

By Lee Kyung-min

The government will foster the output of locally-grown grain to help increase the country's food self-sufficiency rate to 55.5 percent by 2027, up from 44.4 percent last year, the agriculture ministry said Thursday.

The number of overseas grain terminals operated by local firms will be increased to five from two, to secure stable grain distribution channels. The two are in Ukraine and the Port of Longview in the U.S. state of Washington, operated respectively by POSCO International, a trading affiliate of POSCO, and Pan Ocean, a shipping firm.

Global cooperation with key current grain-producing countries will be strengthened, as fortified by stronger overseas development assistance (ODA) ties and plans to diversify trade partner countries in Central and South America.

The Ministry of Agriculture, Food and Rural Affairs said these moves are part of a medium- to long-term food security strategy reported to the prime minister.

The ministry data showed that of the 22.66 million tons of annual grain demand last year, only 20.9 percent, or 4.72 million tons, was produced locally. The remaining 17.94 million tons were imported.

Grain demand for human consumption came to 9.89 million tons. Less than half, or 4.72 million tons of rice and beans, was grown locally, whereas 5.17 million tons of wheat and corn were imported. Rice is the only grain that has registered a self-sufficiency rate of 84.6 percent.

Grain demand for livestock feed stood at 11.96 million tons, almost all of which was imported, including 9.28 million tons of corn.

No longer distant, unlikely concern

"Food security issues are no longer a concern for the distant future," Kim Jung-hee, deputy minister for food grain policy, said during a press briefing at the Sejong Government Complex. "Many countries are weaponizing food resources, a key contributor to volatilities in global food supply chains compounded further by climate change issues."

The country's food self-sufficiency rate hike to 55.5 percent will be enabled by production increases in rice (200,000 tons), wheat (168,000 tons) and beans (147,000 tons).

The self-sufficiency rate in key crops will be increased to 8 percent for wheat and 43.5 percent for beans.

The government investment to improve the quality and cost competitiveness is vital, a goal that should be prioritized by private firms to create a market for promoting stable consumption of locally grown wheat and beans, the ministry added.

Also important is active participation in discussions among key global agriculture players in global food supply chains.

Korea will actively participate in global economic cooperation bodies including the Indo-Pacific Economic Framework (IPEF), a multilateral discussion to be closely followed with strengthened bilateral ties with grain-rich nations.

lkm@koreatimes.co.kr