The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Chuseok exodus begins ahead of extended 6-day holiday

  • 3

    Court rejects arrest warrant for opposition leader Lee over corruption charges

  • 5

    Korea sees record-low births in July

  • 7

    Royal palaces in Seoul offer free access during Chuseok holiday

  • 9

    Hyundai E&C to build upmarket apartment complex in Seoul's Gwanak District

  • 11

    Korea on track to prove esports prowess at Asian Games

  • 13

    Lotte focuses on health care, mobility to spur growth

  • 15

    Teen swimmer Lee Eun-ji shrugs off freak injury to end quarter-century drought in pool

  • 17

    Top prosecutor vows to seek due punishment for Lee through further probe

  • 19

    Samsung SDI to spend $1.97 bil. on 2nd joint US battery plant with Stellantis

  • 2

    Guide to Chuseok celebrations across Korea

  • 4

    INTERVIEWWith '30 Days,' Kang Ha-neul finds new level of comfort in acting

  • 6

    N. Korea decides to expel US soldier Travis King over border crossing

  • 8

    Political battle intensifies after court rejects Lee's arrest warrant

  • 10

    DMZ Open Int'l Music Festival to be held in Goyang in November

  • 12

    Two Koreas trade barbs over nuclear war

  • 14

    Defense ministry launches project to find families of unidentified fallen Korean War soldiers

  • 16

    DPK hails court's rejection of Lee's arrest, demands Yoon's apology

  • 18

    Finance minister expects Korea's exports to rebound as early as October

  • 20

    Wall Street falls sharply as its September slump gets even worse

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
Fri, September 29, 2023 | 02:00
Economy
Gov't to buy 200,000 tons of rice to stabilize prices
Posted : 2021-12-28 09:13
Updated : 2021-12-28 09:13
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
gettyimagesbank
gettyimagesbank

The government will buy 200,000 tons of locally produced rice this year to help stabilize the market price of the staple grain, the ruling party said Tuesday following a meeting with agriculture authorities.

"Of the surplus amount of 270,000 tons of rice, the government will isolate 200,000 tons from the market in the near future," said Rep. Park Wan-joo, the chief policy maker of the ruling Democratic Party (DP). "The government will announce a detailed plan for the purchase of 200,000 tons in January following discussions with related parties."

Park added the government will monitor market situations and rice reserves to determine whether and when it should buy the remaining surplus amount of 70,000 tons of rice.

The move comes after this year's rice production reached 3.88 million tons, up 10.7 percent from a year earlier, and outmatched expected demand of 3.61 million tons, which resulted in a surplus of 270,000 tons.

Due to the oversupply, rice prices have dropped nearly 10 percent since early October and dragged down the income of farmers.

Under the grain management law, the government can "isolate" rice from the market if its harvested amount is 3 percent larger than the expected demand or its prices have dropped 5 percent or more from last year. (Yonhap)


 
miguel
wooribank
LG
Top 10 Stories
1Chuseok exodus begins ahead of extended 6-day holiday Chuseok exodus begins ahead of extended 6-day holiday
2Guide to Chuseok celebrations across KoreaGuide to Chuseok celebrations across Korea
3Korea sees record-low births in July Korea sees record-low births in July
4Political battle intensifies after court rejects Lee's arrest warrant Political battle intensifies after court rejects Lee's arrest warrant
5Hyundai E&C to build upmarket apartment complex in Seoul's Gwanak District Hyundai E&C to build upmarket apartment complex in Seoul's Gwanak District
6DMZ Open Int'l Music Festival to be held in Goyang in November DMZ Open Int'l Music Festival to be held in Goyang in November
7Korea on track to prove esports prowess at Asian Games Korea on track to prove esports prowess at Asian Games
8Lotte focuses on health care, mobility to spur growth Lotte focuses on health care, mobility to spur growth
9Two Koreas trade barbs over nuclear war Two Koreas trade barbs over nuclear war
10Defense ministry launches project to find families of unidentified fallen Korean War soldiers Defense ministry launches project to find families of unidentified fallen Korean War soldiers
Top 5 Entertainment News
1[INTERVIEW] With '30 Days,' Kang Ha-neul finds new level of comfort in acting INTERVIEWWith '30 Days,' Kang Ha-neul finds new level of comfort in acting
2Rwandan artists bring diversity to Seoul's art scene Rwandan artists bring diversity to Seoul's art scene
3[INTERVIEW] ONEUS returns as 'mermaid prince' INTERVIEWONEUS returns as 'mermaid prince'
4Kep1er unveils 'Magic Hour' with fresh perspective on love Kep1er unveils 'Magic Hour' with fresh perspective on love
5K-pop group Kingdom recalls album cover resembling Quran K-pop group Kingdom recalls album cover resembling Quran
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group