Minister of Agriculture, Food and Rural Affairs Song Mi-ryeong visited the rice harvesting and purchasing site in Seosan, South Chungcheong Province, to assess this year's rice production and supply situation. The government aims to isolate excess rice production as much as possible and stabilize rice prices through public rice purchases and financial support for rice procurement.
On November 2, Minister Song visited the fields in Unsan-myeon, Seosan, and the Dongseosan Agricultural Cooperative's Rice Processing Complex (RPC) to observe the harvesting and purchasing processes and gather opinions from farmers and RPC officials. After participating in the rice harvesting, she discussed this year's production and rice price trends with the farmers.
Farmers reported that recent prices for rice at the production site have improved, leading to high expectations for this year's purchasing prices. RPC officials requested proactive supply and demand measures from the government to ensure stable rice prices through next year.
In response, Minister Song explained that the government has established measures for stabilizing rice supply and demand last month and is working to isolate excess production through the return of government rice loans. She emphasized her commitment to ensuring that farmers can feel the benefits of a bountiful harvest through stable rice prices.
This year's rice production is estimated at 3.46 million tons, with excess production exceeding demand at approximately 66,000 tons, or 1.9% of total production. The Ministry of Agriculture, Food and Rural Affairs had previously established measures to isolate the excess production of 2026 rice through the return of government rice loans after deliberation by the Grain Supply and Demand Management Committee on October 12.
In addition to the return of rice loans, the government plans to purchase 400,000 tons of public rice reserves and support 4 trillion won in rice procurement funds to assist farmers in stable sales. The government will also strengthen management of rice distribution during the harvest season.
The Dongseosan Agricultural Cooperative RPC visited by Minister Song is jointly operated by four cooperatives: Unsan, Eumam, Haemi, and Gobuk. It is currently pursuing further integration with five additional cooperatives, including Daesan, Seosan, Buseok, Jigok, and Seongyeon. Plans are in place to establish a consolidated corporation by the end of this year to increase operational scale, reduce production costs, and enhance bargaining power and distribution competitiveness.
Minister Song expressed hope that the RPC integration would lead to reduced production costs and improved bargaining power, ultimately increasing farmers' incomes. She stressed that RPCs should play a role beyond mere milling facilities, connecting production sites with consumers and ensuring a stable supply of high-quality rice.
She added, "We are proactively promoting appropriate production through the introduction of direct payments for rice supply adjustment this year, and we will manage rice prices stably through more systematic supply and demand management under the revised Grain Management Act implemented in August."
The Ministry of Agriculture, Food and Rural Affairs plans to continuously monitor rice price trends and collaborate with distribution and sales organizations, such as cooperatives, to promote stable management for farmers and boost rice consumption.
* This article has been translated by AI.
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