"I'm going to stop the price of rice from falling".Government buys 200,000 tons of newly harvested rice this year

In order to stabilize rice prices during the harvest season, the government has decided to buy 200,000 tons of new rice, which exceeds excess production.

The Ministry of Agriculture, Food and Rural Affairs held a grain supply stabilization committee today (15th) and announced that it would purchase 105,000 tons of newly harvested rice last month, followed by an additional 95,000 tons.

This is more than expected, and the Ministry of Agriculture, Food and Rural Affairs explained that it is a move that has agreed that drastic market isolation is needed to prevent rice prices from falling during the harvest season.

The government also plans to purchase all the desired supplies of farmers affected by rice extinction to minimize farm losses and provide 3.5 trillion won in rice purchases to mountain distributors to ensure stable rice sales.