(Seoul=Yonhap News) Reporter Kim Yoon-gu = The retail price of rice has surged by nearly 30% compared to last year, exceeding 270,000 won per 100 kg.
According to the Korea Agro-Fisheries & Food Trade Corporation on the 4th, the average retail price of rice surpassed 68,000 won per 20 kg in the past two days. Converting to 100 kg, the price is 273,740 won.
On the 22nd of last month, the price was 63,991 won, but it jumped by more than 4,000 won in just ten days.
The price of rice has increased by 29.2% compared to last year (52,980 won) and by 25% compared to the average price (54,747 won).
Due to the Ministry of Agriculture, Food and Rural Affairs purchasing 260,000 tons of rice to prevent a drop in prices during last year's harvest, the stock of local distributors has been insufficient in recent months, causing the price of rice to fluctuate.
According to the 'September Consumer Price Trend' released by the National Data Agency on the 2nd, the consumer price of rice increased by 15.9% compared to the same month last year.
The Ministry of Agriculture, Food and Rural Affairs has supplied 55,000 tons of government grain to local distributors on a rental basis, and as of the 25th, the price of local rice was 226,816 won per 100 kg, up 0.7% from ten days ago, indicating a slowdown in the rate of increase.
The Ministry of Agriculture, Food and Rural Affairs expects that the price of local rice will stabilize and consumer prices will gradually decrease after the middle of this month when the main rice harvest begins.
The Ministry of Agriculture, Food and Rural Affairs plans to hold a Grain Supply and Demand Stabilization Committee meeting in the middle of this month, involving the government, producers, local distributors, and experts, to formulate measures for this year's rice harvest.