South Korea: Rice Production Update

On November 14, 2017, Statistics Korea (KOSTAT) released its revised 2017 rice production estimate of 3.972 million metric tons (MMT), slightly up from 3.955 MMT, the initial rice production estimate surveyed in early September, 2017. This represents 5.3 percent lower output than last year’s record crop, reflecting a decline in rice area. Lower production is expected to result in a 25 percent stocks-to-use ratio in MY 2017/18, sharply lower than 44 percent in MY 2015/16. 

South Korea: Rice Production Update