Price-In-Charts: Rice price in South Korea decreases while demand reduced

The wholesale price of South Korean Japonica rice for both medium and high quality has risen substantially between May W3 2020 to May W2 2021. The YoY price increase of medium quality rice was slightly higher than high quality by 4%. The YoY price increase for the medium quality rice was at 45.81% while for the high-quality rice was 41.68%. Rice consumption in South Korea has been declining since 1980 due to increased health consciousness and cancellation of events due to COVID-19.