Grain Management Act for Compulsory Purchase of ‘Extra Rice’ by the Government The full meeting of the National Assembly was passed

The Grain Management Act, which requires the government to buy overproduced rice, passed the full session of the National Assembly.

The ruling and opposition parties held a plenary meeting of the National Assembly this afternoon (23rd) and passed the ‘Bill to Amend the Reform Grain Management Act’ with 169 in favour, 90 against, and 7 abstentions among the 266 was present.

The amendment includes compulsory government purchases if rice production is more than 3-5% of the target or if the price of rice falls more than 5-8% compared to the previous year.

People’s power plans to veto President Seok-Yeol Yoon, saying the amendment encourages overproduction of rice and burdens the national budget.