Rice Production In South Korea Anticipates Price Decline

A report by Foreign Agricultural Service (FAS) of the US Department of Agriculture, has cited that rice production in South Korea production is predicted to decline to 3.44 million tonnes in marketing year 2025-26 on reduced planted area. Not only this, but the production in the new marketing year has been observed declining from 3.58 million tonnes in 2024-25, and an additional drop from 3.7 million tonnes in 2023-24.
Interestingly, the FAS is also forecasting a decline in rice consumption due to demographic changes and alternative meals replacing the traditional rice-based cuisine among youngsters. The total population of South Korea will decrease to 47.1 million people by 2050 as a result of low fertility rate, as per Statistics Korea.
In addition, the total consumption of 2025-26 has been observed decreasing in the comparison of last year that was observed 3.88 million tonnes and 4.19 million tonnes in 2023-24. To combat this declining trend, the national government has implemented numerous strategies that have gained massive support from policymakers and invited co-sponsors from public as well as private sectors.
Besides this, the Ministry of Agriculture, Food, and Rural Affairs (MAFRA) has declared its plans on June 19 of forming a non-profit funded organization naming it ‘the Korea Rice Industry Association’ that aims to develop the ROK rice industry by endorsing rice consumption and sales while balancing supply and demand.

Furthermore, the FAS has added that consumption of rice for processing continues to partially offset the reduction of total consumption, as the popularity of Korean processed rice products such as frozen kimbap and snacks maintains their growth in the global market. Apart from this, South Korea has succeed in expanding its export markets to control rice oversupplies. The country is expected to export 200,000 tonnes of rice in 2025-26. Moreover, the FAS forecastes that exports of rice will increase further in the upcoming years with the government’s  support for rice exports.