Core Viewpoint - South Korea is experiencing a rise in rice prices due to tightening market supply, prompting the government to lend 30,000 tons of reserve rice to local distributors to stabilize prices [1] Group 1: Price Trends - As of August, the average retail price for a 20-kilogram bag of rice in South Korea is 58,000 KRW (approximately 300 RMB), which is over 10% higher than the annual average and nearing the 60,000 KRW (approximately 310 RMB) threshold [1] Group 2: Government Intervention - The South Korean government plans to lend a total of 30,000 tons of rice harvested in 2024 to local distributors by the end of this month to alleviate supply shortages, with the condition that these businesses will return new rice from this year's harvest [1] - This is the first time the South Korean government has used a lending method to release reserve rice into the market, as previous methods involved auctioning off government reserves [1]

Core Viewpoint - The government has set a target of approximately 1.4 trillion jin (about 700 million tons) for grain production this year, emphasizing the importance of spring management and sowing to ensure a successful summer harvest [1][2]. Group 1: Grain Production Outlook - The current state of grain and oilseed production is promising, with stable winter wheat acreage and a good growth condition for winter oilseed rape, which has seen an increase in area for seven consecutive years [1][3]. - The spring sowing progress is ahead of last year, with nearly 20% of the national spring grain sowing completed as of mid-April, including over 70% for early rice and over 60% for middle rice [2][3]. Group 2: Support Measures and Strategies - The government continues to enhance support for grain production by raising minimum purchase prices for wheat and early indica rice, stabilizing subsidies for corn and soybeans, and implementing comprehensive cost insurance for rice, wheat, and corn [3][4]. - A focus on improving grain yield through the "Four Good" strategy (good land, good seeds, good machinery, and good methods) aims to achieve breakthroughs in large-scale yield increases [4]. Group 3: Market Dynamics - Domestic grain prices have stabilized and begun to rise since February, with stable prices for staple grains like rice and wheat, while corn and soybean prices have increased [4][5]. - The recovery in the grain market is attributed to effective regulatory measures, improved demand due to consumption policies, and a positive outlook among trade and processing enterprises [5].