South Korea govt to purchase 350,000 tons of rice for reserve.

South Korea will increase the purchase of local rice that will be set aside for reserve purposes this year to help stabilize prices on the domestic market. Ministry of Agriculture, Food and Rural Affairs said it will buy 350,000 tons of rice harvested this year from Sept. 25 to Dec. 31. It will increase the purchase of rice from last year’s 82,000 tons to 90,000 tons and buy 260,000 tons of packaged rice. Some 10,000 tons of rice will be set aside for ASEAN Plus Three Emergency Rice Reserve as Seoul plans to send rice aid to developing nations.