Ministry of Agriculture, Trade and Rural Affairs, ‘Check Supply Situation of International Grains through International Grains Advisory Committee
Public Relations Division
○ As the prices of international grains have recently continued to rise, the Ministry of Agriculture, Trade and Rural Affairs conducted a survey on the supply situation with the industry and experts.
- Domestic industry has secured the quantity for demand through contract until May to early August in the following year
- Since August, the international price showed increasing trend, but some have been canceled out due to the drop in exchange rate. It is necessary to conduct a continuous monitoring on the relevant trend and share the information to minimize the effect on the prices in Korea.
○ Through the close cooperation with the grain related industry, it is scheduled to conduct a careful monitoring on unstable factors in the international grain markets (Logistics status, export restriction, harvest, and exchange rate of major export countries, etc.) and respond preemptively to minimize the failure of supply.