Government to balance supply, demand of rice

Home > Business > Economy

print dictionary print

Government to balance supply, demand of rice

The Korean government said Thursday that it will strike a balance between rice supply and demand by 2019 through efforts to reduce rice cultivation and boost consumption.

The country has been suffering from a chronic oversupply of the staple grain for years due to a sharp drop in rice consumption. Some 300,000 tons of rice remained in excess last year, as the 4.2 million ton supply outnumbers the 3.9 million tons consumed, and the glut will likely stay at 200,000 tons in 2017.

Meanwhile, a change in people’s diet and tastes has dragged down rice consumption by a large extent for years, with per capita rice consumption nearly halving to 62.9 kilograms (138.7 pounds) per year in 2015 from the 128.1 kilograms tallied in 1985.

As a first step, the government will reduce the country’s rice paddies to 711,000 hectares (1.8 million acres) in 2019 from 779,000 hectares in 2016, while the public rice stockpile will be raised to 1.44 million tons in 2017 from 1.13 million tons in 2016.

In the first half of this year, it will donate some 1,000 tons of rice to the international community through the emergency rice reserve framework launched by Southeast Asian countries and three East Asian countries.

It will also improve the nationwide network of rice distribution in a bid to lower consumer prices of the grain and introduce a rating system to satisfy diversified consumers’ tastes.

In a way to meet growing demand for ready-to-eat dishes, the government will support food businesses to develop rice-based desserts and light meals.


YONHAP

More in Economy

Hangeoleum model compromise is achieved for minbak

On the campaign trail

Online courses get failing grades from tech students

Help after the rains

Plush protest

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now