AreaRepublic of Korea

Commodity GroupRice

CommodityAll

Date01/01/2014

Policy CategoryProduction

Policy InstrumentProduction support

DescriptionRaised direct area payments to rice farmers under the Rice Income Compensation Act by 13 percent to Won 900 000 (USD 837) per hectare. The rice target price used to calculate deficiency payments was also raised by 11 percent to Won 188 000 per 80 kilos (USD 2 186 per tonne).

NotesExchange rate as of 15 March 2014.