AreaRepublic of Korea

Commodity GroupRice

CommodityAll

Date12/09/2016

Policy CategoryStocks

Policy InstrumentGovernment procurement

DescriptionAnnounced that the government would purchase 390 000 tonnes of rice from the 2016 harvest to stabilize local quotations. Payment for these purchases would be issued in advance, with the volume comprising 360 000 tonnes of rice, as part of the Public Rice Stockholding Program, and 30 000 tonnes as the country\'s contribution to the ASEAN Plus Three Emergency Rice Reserve (APTERR). Additional support measures would include loans to aid processors’ purchase of local supplies, and steps to encourage greater export and use of rice for non-food purposes.