Instead of lunch, the government of South Korea subsidizes student breakfast

Rice

South Korea

Market & Price Trends

Innovation & Technology

Published Feb 11, 2024

Tridge summary

In response to a decline in domestic rice consumption, the South Korean government is planning to boost rice intake among 20-somethings as part of its 2024 budget plan. This includes expanding breakfast project subsidies for 4 million college students and supporting companies that create new products using rice flour, with the aim of increasing grain self-sufficiency and reducing wheat imports. The government is also providing subsidies to farmers who switch from rice to other grains. This follows an agreement in 2023 by Starbucks Korea to develop new products using rice flour.

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Original content

Jakarta, CNBC Indonesia - The South Korean (South Korean) government is trying to increase rice consumption among Koreans in their 20s. This is part of the 2024 budget plan. According to a report by the US Department of Agriculture's Foreign Agricultural Service (FAS), to address the trend of declining domestic rice intake, the South Korean government is expanding its breakfast project subsidies targeting 4 million college students, a generation that is most likely to skip breakfast. "The Korean government will continue to support companies that develop new products that use rice to make flour (especially for noodles and snacks), with the target of increasing the country's level of grain self-sufficiency by reducing wheat imports," the report said, quoted from World Grain, Saturday (10/2/2024). In 2023, Starbucks Korea signed a memorandum of understanding to increase domestic consumption of agricultural products and joint growth in the agriculture and food service industries, and ...

Source: Cnbcindonesia