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
 INCO Terms
 US Rice Standards
 EU Codex Standards
 Egyptian Specs
 Sponsor List
 All Links
 Commodity Exchange
Search in news database
Gov’t to Raise Rice Purchases
The South Korean government plans to purchase an additional 1 million seok of rice from local farmers in November to stabilize market prices, the country's Agriculture Ministry said Wednesday.
Early this year, the government announced that it would buy rice from farmers and sell it at market prices, while keeping 6 million seok of rice as emergency reserves. One seok equals 144 kilograms.

``There are no problems in the supply-demand of rice but rice prices have fallen due to the emergency reserve system that was implemented for the first time this year,’’ Kim Young-man, director-general of the ministry's food policy bureau.

The government introduced the reserve system for rice and other grains to guard against bad harvests or other national disasters.

The ministry originally planned to purchase 4 million seok of rice this year as reserves, but has decided to augment this with an additional 1 million seok of rice.

The rice purchase will cost about 250 billion won ($238 million), the official said.
MGR Archive 20.10.2005
Printer Friendly Version Of This Article
Send This Article To A Friend
User Name:
      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:

  © 2002 All rights reserved. - Legal Notice