Rice Prices Soar to Nearly Four-Year High, Korea Releases Additional Reserve Stocks

　　South Korea's Ministry of Agriculture, Food and Rural Affairs announced on the 12th that it will release an additional 25,000 tons of reserve rice into the market to stabilize rising rice prices caused by tight supply.

　　According to Yonhap News Agency, on the 5th of this month, the purchase price of a 40-kilogram bag of rice in South Korea exceeded 220,000 won (approximately 1,126 RMB), marking the first time in nearly four years that rice prices have surpassed this level. The South Korean government subsequently decided to initiate a second round of reserve rice releases.

　　Currently, the average retail price of a 20-kilogram bag of rice in South Korea is 61,000 won (approximately 312 RMB), a 20% increase compared to the same period last year.

　　Excessive rainfall during this year's new rice harvest season in South Korea delayed rice shipments, thereby driving up prices. To curb the price increase, the Ministry of Agriculture, Food and Rural Affairs began releasing 30,000 tons of reserve rice starting August 25.