South Korea: 2019 Rice Production Update
Link to report:
On November 12, 2019, Statistics Korea (KOSTAT) released its revised 2019 rice production estimate of 3.744 million metric tons (MMT), down 1 percent from the initial rice production estimate surveyed for early September 2019 (3.780 MMT) and down 3.2 percent from the previous year, reflecting a decline in rice area (down 1.1 percent) and lower yield (down 2.2 percent). Lower production, in tandem with a continued government policy encouraging the consumption of old rice for animal feed, is expected to result in a 15.2 percent stocks-to-use ratio in MY 2019/20.
