What's Happening?
South Korea's Agro-Fisheries and Food Trade Corporation has purchased approximately 45,200 metric tonnes of rice from Vietnam and Thailand through an international tender. The purchase includes non-glutinous milled rice, with 30,000 tons sourced from Vietnam and the remainder from Thailand. The Vietnamese rice was bought at varying prices, with freight included, while Thai rice was purchased at slightly higher prices. The rice is expected to arrive in South Korea in several consignments from November 2025 to June 2026.
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Why It's Important?
This purchase is significant for South Korea as it ensures a stable supply of rice, a staple food, amid global agricultural uncertainties. By diversifying its sources, South Korea can mitigate risks associated with supply chain disruptions and price volatility. The transaction also reflects the interconnectedness of global agricultural markets and the importance of international trade in securing food resources.
