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S. Korea to complete overland rice aid to N. Korea
SEOUL, Aug. 22 (Yonhap) -- South Korea is to deliver 50,000 tons of rice aid to North Korea overland this week as part of its promised loan of 400,000 tons of rice, officials said Wednesday.

"So far, 42,500 tons of rice aid to North Korea via an overland route have been delivered and the remaining 7,500 tons of rice will be sent before Friday," a Unification Ministry official said.

South Korea resumed shipping rice to North Korea in late June after more than a one-year hiatus as the North began taking steps toward nuclear disarmament. The aid, which consists of 250,000 tons of imported rice and 150,000 tons of domestic rice, will be delivered over the next few months.

North Korea is supposed to pay back US$152 million of the rice loan over 20 years after a 10-year grace period at an annual interest rate of 1 percent.

South Korea resumed shipments of fertilizer and other emergency aid to the North in late March, but withheld the loan of 400,000 tons of rice as an inducement for North Korea to start nuclear dismantlement following a landmark agreement reached in the six-nation talks in February.

In early June, inter-Korean ministerial talks ended without tangible results after North Korea protested the South's decision to withhold rice aid until after the North's initial steps towards denuclearization.

South Korea suspended all types of food and fertilizer aid to North Korea after the North conducted missile tests in July. Resumption of the aid was also stymied because of the North's nuclear bomb test in October, but the two sides agreed to put all inter-Korean projects back on track in early March. The last rice aid shipment was made in early 2006.
MGR Archive 23.8.2007
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Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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