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South Korea: Rice oversupply forecast

쌀 공급과잉 전망…“선제적 격리해야”
This news article has been translated to English.
Rice
South Korea
Supply Yield / Stock Quantity
Oct 13, 2021
From Nongmin
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Rice production in 2021 is expected to be 3827,000 tons. This is a 9.1% increase compared to last year. Attention is focused on whether the rice supply and demand stabilization system enacted by the government last year will be activated for the first time. On the 8th, the National Statistical Office released the results of the survey on expected rice production in 2021. The yield (production per 10 a) was predicted to be 522 kg. The average number of plates minus the maximum and minimum values over the past five years was 521 kg. The reason why the production is so high even though the crop is at the normal level is because the crop last year was so bad. Last year, the longest rainy season in history and torrential rains overlapped, resulting in a yield of only 483 kg. The increase in cultivated area is also a factor. This year's rice cultivation area was 732,477 hectares, an increase of 6045 hectares (0.8%) from last year's 726,432 hectares. The mountain area and the Yangjeong authorities are in emergency. This is because the price of rice may become unstable as the era of oversupply, in which supply exceeds demand, returns after a year. But the point of concern is subtly different. The producers order preemptive price support measures as the price of rice, which has been raised with difficulty, may plunge again.
Rice production in 2021 is expected to be 3827,000 tons. This is a 9.1% increase compared to last year. Attention is focused on whether the rice supply and demand stabilization system enacted by the government last year will be activated for the first time. On the 8th, the National Statistical Office released the results of the survey on expected rice production in 2021. The yield (production per 10 a) was predicted to be 522 kg. The average number of plates minus the maximum and minimum values over the past five years was 521 kg. The reason why the production is so high even though the crop is at the normal level is because the crop last year was so bad. Last year, the longest rainy season in history and torrential rains overlapped, resulting in a yield of only 483 kg. The increase in cultivated area is also a factor. This year's rice cultivation area was 732,477 hectares, an increase of 6045 hectares (0.8%) from last year's 726,432 hectares. The mountain area and the ...
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