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| ▲ A farmer uses a machine to harvest rice at a paddy near the inter-Korean border in Cheorwon, 85 kilometers northeast of Seoul, in this file photo taken Aug. 21, 2023. (Yonhap) |
S Korea-rice purchase
S. Korean gov't to buy 400,000 tons of rice for reserves
SEOUL, Aug. 30 (Yonhap) -- South Korea's agriculture ministry said Wednesday it will purchase 400,000 tons of rice from this year's harvest for its reserves of the staple grain.
The government will purchase 280,000 tons of packaged rice, along with 120,000 tons of pre-dried rice, starting Wednesday through the end of this year, according to the Ministry of Agriculture, Food and Rural Affairs.
The government will purchase the rice at the average market price estimated from October to November.
Farmers will initially receive 30,000 won (US$22.7) per 40-kilogram bag, with the remaining amount to be paid by the end of this year, the ministry said.
South Korea has been struggling to cope with a glut of rice, a key staple food for Koreans, amid the steady decline in its consumption due to changes in people's diet and eating habits.
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