By Chun Byung-soo

The government said on the 13th that this year’s rice production is projected at about 3.46 million tons, with excess output expected to be around 66,000 tons (1.9% of total production). To stabilize supply and demand, the government plans to stockpile as much of this year’s excess rice as possible so it does not reach the market.

When rice becomes scarce, the government lends unhulled rice to the private sector, and private companies process it and sell it on the market. The government takes back part of the volume lent during the fall harvest to manage supply and demand.

The Ministry of Agriculture, Food and Rural Affairs plans to maintain its plan to have about 120,000 tons of remaining government grain previously provided through lending returned to adjust supply and demand. Earlier, the ministry lent 155,000 tons of government grain. However, it will review the volume and timing of returns in light of the final production and carryover stocks.

In addition, the ministry said it will purchase 400,000 tons as public reserve rice during this year’s harvest season. Following a 10,000 won increase in the interim settlement price for public reserve rice in 2024, it plans to raise it by another 20,000 won this year to ease farmers’ funding burdens during the harvest season.

Chun Byung-soo

Published Date: October 13, 2026