Korea buying over 45,000 tons of rice from Vietnam, Thailand
South Korea’s Korea Agro-Fisheries & Food Trade Corp. bought 45,200 tons of rice from Vietnam and Thailand, valued at about \$17 million, for delivery from November to June. Vietnamese rice cost around \$370 per ton, Thai \$380. The move aims to stabilize supply as domestic prices exceed 210,000 won per 80 kg sack.
South Korea’s state-run Korea Agro-Fisheries & Food Trade Corp. (aT) has purchased more than 45,000 tons of rice through an international tender, foreign media reported on Aug. 25.
According to the reports, aT agreed earlier this month to import a total of 45,200 tons of rice from Vietnam and Thailand, with deliveries scheduled in stages between this November and next June.
Of the total, about 30,000 tons will be sourced from Vietnam and the remainder from Thailand.
Vietnamese rice was contracted at around $370 per ton, while Thai rice was bought at roughly $380 per ton. Some specialty grades were traded at higher prices.
The deal, valued at an estimated $17 million, is seen as part of the government’s efforts to stabilize domestic rice supply and prices.
The purchase comes as South Korea faces concerns over tighter supply ahead of the harvest season.
Recent reports indicate rising costs both at farms and in consumer markets. According to Statistics Korea, the price of an 80-kilogram sack of rice exceeded 210,000 won ($150) in early August, the first time it has done so since Oct. 2023.
To Read more about Rice News continue reading Agriinsite.com
Source : Korea News Plus
