Government to buy 157,000 tons of rice to stabilize prices
Mar 8, 2016
The government said Tuesday that it will purchase an additional 157,000 tons of locally produced rice last year, as part of its effort to stabilize market prices.Under the measure approved at a Cabinet meeting, the government will spend 140 billion won ($113.6 million) to isolate 157,000 tons of rice from the market following its previous purchase of 200,000 tons in October 2015.Rice harvest at Yangyang, Gangwon Province (Yonhap)In 2015, Korea harvested a surplus amount of 3.57 million tons of r