S. Korea to release 80,000 tons of rice in June to cope with supply shortages

Seoul (South Korea), June 7: South Korea's agricultural ministry said Monday it plans to release 80,000 tons of rice into the market this month to cope with supply shortages and stabilize prices.
The move will raise the amount of reserved rice released into the market since January this year to 290,000 tons, according to the Ministry of Agriculture, Food and Rural Affairs.
The ministry earlier announced it plans to release up to 370,000 tons of reserved rice into the market this year.
The combined production of rice came to 3.51 million tons last year, 120,000 tons fewer than the country's annual goal of 3.63 million tons.
The shortage came as South Korea underwent a record long rainy season, which lasted for 54 days. The country was also hit by powerful typhoons, including Typhoon Maysak and Haishen.
Source: Yonhap