South Korea To Release Reserve Rice To Curb Price Hike

The South Korean government has decided to release 50,000 MT of state-controlled rice in April in order to help stabilize the ongoing steady price gains that could adversely affect the country's economy.

Rice is one of the 52 basic commodities and services whose prices the government promised to control to prevent consumer price hikes. Consumer prices rose 3.6% in February, slightly higher than the government's inflation control target of 2.5%-3.5% for this year.