South Korea: Grain and Feed Update

Marketing year (MY) 2025/26 rice production in the Republic of Korea (ROK) is forecast further down on reduced planted area approaching half of the government’s reduction target of 80,000 hectares. Delayed transplanting because of unfavorable weather in May postponed the official planting forecast announcement to July. Since Lee Jae-myung’s victory in the ROK snap presidential election on June 3, 2025, the Democratic Party is driving revisions to the Grain Management Act, which had been vetoed by the previous administration. Although demographic changes continue to drive down domestic rice consumption, exports of processed rice products are rising. Stocks of imported table rice continue to pile up as the Ministry refuses to resume weekly auctions of U.S. table rice, which have now been suspended for over 18 months. The government plans to transfer stocks of U.S. table rice from the 2022 crop year into alcoholic beverage production because it is no longer marketable for household consumption.