Govt. to supply 100,000 tons of rice for price stabilization

The agriculture ministry said Friday it will supply 100,000 tons of rice from its reserves of the staple grain to help stabilize soaring prices sparked by a supply shortage. The decision came as the average retail price of a 20-kilogram bag of rice reached 63,000 won ($44) as of Wednesday, up over 15 percent from a year earlier, according to government data. The Ministry of Agriculture, Food and Rural Affairs said the combined rice inventory held by agricultural cooperatives and rice processing

By The Korea Herald