AreaRepublic of Korea

Commodity GroupRice

CommodityAll

Date01/09/2014

Policy CategoryTrade

Policy InstrumentImport quota

DescriptionAnnounced that it would seek to impose a 513% tariff on volumes imported outside of the 408 700 tonne minimum access quota, following the expiration of the WTO special treatment on rice on 31 December 2014. The government would present its tariffication plan to the WTO for verification as of October 2014, with officials reiterating their commitment to exclude rice from any future free trade agreement and to put in place measures to safeguard the local industry, including by prohibiting local rice from being mixed with imported supplies and through checks on the reported price of imports.