Rice Production Hits Lowest Level in 38 Years
14 November, 2018
Rice production in Korea is at its lowest level in 38 years. Statistics Korea said Tuesday that rice output will stand at an estimated 3.87 million tons this year, down 2.6 percent on-year.
The decrease is attributed to other crops replacing rice, as well as extreme heat and frequent rain during the summer.
The lower supply has pushed up the price of rice by 29 percent compared to last year, despite decreasing consumption. Some 20 kg of rice now costs W53,462 (US$1=W1,134).