Area
Republic of Korea
Commodity Group
Rice
Commodity
All
Date
04/01/2018
Policy Category
Production
Policy Instrument
Production adjustment program
Description
Announced its aim to convert 50 000 ha of paddies to other uses in 2018, in order to stabilize the local market in view of steady declines in domestic rice consumption. For this purpose, it would offer an average of KRW 3.4 million (USD 3 172) per ha to farmers who agree to cultivate crops other than rice.
Notes
Exchange rate as of 15 April 2018.
