Developing Countries Will Lead Global Rice Import Growth in 2013-22, Says USDA Rice growers positive California MG prices are UP Russia MG Harvest coming to end Egypt open rice exports Vietnam’s rice export in tough competition with India Thai rice exports in May Rise Above Target This Year Viet-Nam Rice exports likely to fall this year
Australia Medium Grain Rice #1 $ N/A    Egypt 101 #2 $760    Egypt 178 #2 Rice $730    EU Prices Baldo €660    EU Prices LG-A Ariete 5% €550    EU Prices MG Lotto 5% €500    EU Prices RG Balilla 5% €500    Russia Rapan $ 700    USA Jupiter Paddy $375    USA Calrose #1 Paddy $480    USA Jupiter Rice $630    USA Calrose #1 $830   

 Main Page
 Home Page of This Title
 Medium Grain Rice Market
 Global Market News
 Grain News
 Pulses News
 Global Overview
 Importers Profile
 Exporters Profile
 What Is Rice
 History Of Rice
 Rice Harvest Seasons
 Rice Processing
 Rice Nutrition Facts
 Meals With Rice
 Restaurants
 INCO Terms
 Ports
 US Rice Standards
 EU Codex Standards
 Egyptian Specs
 Sponsor List
 All Links
 Rice
 Grain
 Agriculture
 Commodity Exchange
 Weather
 Other
 Info
 Editor
 Advertisement
 Technical
Search in news database
Seoul, Beijing near to compromise over rice
The Korea Times, December 2, 2004
South Korea and China in Beijing on Wednesday tentatively agreed that Korea will suspend free imports for another 10 years until 2014 while gradually increasing obligatory imports to 8 percent of total domestic consumption, the government said.

The two sides also agreed that Korea would sell 20 percent of imports to consumers, which had been a knotty issue. So far, foreign rice is not sold to consumers but is used in processing and given to North Korea as aid.

Under the initial 10-year moratorium on the opening of the rice market reached in 1994 at the multilateral Uruguay Round talks, Korea has been increasing the amount of imported rice every year, hitting 4 percent of total domestic consumption in 2004.

If the differences are ironed out by the end of this year, it is expected that Korea will be able to put off the opening of the rice market until 2014, according to the Ministry of Foreign Affairs and Trade and the Ministry of Agriculture and Forestry.

But instead of another 10-year moratorium, Korea will have to increase imports of foreign rice over the next decade, ultimately to 8 percent of total domestic consumption.

China, the United States and Thailand are major exporters of rice to Korea.

The government plans to negotiate with the U.S., Thailand and other rice exporting nations based on the near agreement with China.

Over the last few months, China has pressed Korea to open its rice market completely with high tariffs rather than increasing mandatory imports, believing its rice to be competitive in the Korean market due to cheap production prices. The local market price of rice is about four times higher than that of the Chinese product.

However, some researchers claim it would be better for Korea to open the rice market completely and impose high tariffs rather than accept mandatory imports of 8 percent.
MGR Archive 2.12.2004
Printer Friendly Version Of This Article
Send This Article To A Friend
User Name:
Password:
      Forgot your Password?
Region Type Price  
Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
Click for Details

Medium Grain Reports
Rice Market News
World Rice Markets and Trade
USDA Country Reports
Rice Market Monitor
Rice Outlook
Italian Paddy Supply
European Rice Weekly
EU Reports
Convert this amount:


Convert
  © 2002 All rights reserved. - Legal Notice