The Korea Herald

피터빈트

Korea pushes to raise target price for rice

By Yonhap

Published : Oct. 10, 2018 - 11:07

    • Link copied

South Korea's agriculture ministry said Wednesday it will push to raise the target price of rice in line with inflation to guarantee a stable level of income for local farmers.

Lee Gae-ho, the minister of agriculture, food and rural affairs, said the government will submit the new target price to the parliament in early November, but he didn't disclose the specific price range.

The policymaker earlier said the price should be over 194,000 won ($173.8) per 80 kilograms. The current target price was set five years ago. 


Lee Gae-ho, South Korean minister of agriculture, food and rural affairs, speaks during a parliamentary audit held at the National Assembly in Seoul on Oct. 10, 2018. (Yonhap) Lee Gae-ho, South Korean minister of agriculture, food and rural affairs, speaks during a parliamentary audit held at the National Assembly in Seoul on Oct. 10, 2018. (Yonhap)

"We are pushing to reflect the inflation rate in the target price of rice in the process of negotiation with the parliament," Lee said during a parliamentary audit. "We will change the target price to improve income for farmers and will push for a revision of the rice subsidy system that meets public expectations.

In South Korea, the government annually purchases homegrown rice to stabilize the domestic market, which is grappling with oversupply, and provides subsidies for rice farmers.

The chronic oversupply of rice comes as a growing number of South Koreans have been reducing their rice intake and diversifying their diets with alternatives like wheat, barley, beans and corn.

The minister also vowed to step up quarantine efforts to prevent chronic outbreaks of contagious animal disease, including avian influenza and foot-and-mouth disease.

Outbreaks of bird and swine flu have been prevalent in South Korea during the winter season, prompting the government to upgrade quarantine inspections and other preventive measures.

"The government has set a special quarantine period from this month to February to promptly deal with emergency situations," Lee said. "We will adopt strong quarantine measures against AI and FMD to lessen the burden on local farms."

Highly pathogenic avian influenza comprises a range of viruses that cause severe disease in birds and result in high death rates, leading to massive culling of chickens and ducks.

FMD is an acute infectious viral disease of livestock that causes fever followed by the development of vesicles chiefly in the mouth and on the feet. It is one of the most infectious diseases for livestock and can spread rapidly if uncontrolled. (Yonhap)