# Rice prices plunge to 21-yr low - The Korea Herald

> South Korean rice prices fell to a 21-year low in 2016 despite forecasts of lower production from unfavorable weather. The government said it will purchase the full 1.6 million tons of excess rice and has bought an additional 98,000 tons for public stockpiling.

- Date: 2016-11-11 · published 2016-11-11T12:00:00.000Z
- Category: policy · region South Korea · magnitude low
- Page: https://feedsoft.ai/events/12237-rice-prices-plunge-to-21-yr-low-the-korea-herald
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

Government buying to absorb a chronic glut props up domestic rice prices, while falling per-capita consumption keeps demand structurally weak. Rice feed-grade substitution pressure stays limited.

## Read by commodity

- RICE: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2024-10-09 | [Platts-assessed Asian rice prices plunge to multi-month low amid India's export ban U-turn](https://feedsoft.ai/events/27914-platts-assessed-asian-rice-prices-plunge-to-multi-month-low-amid-india-s-export.md) | -0.6% | -4.4% |
| RICE | 2024-10-03 | [Rice Prices Plunge Most in 16 Years After India Eases Export Curbs - Bloomberg](https://feedsoft.ai/events/12944-rice-prices-plunge-most-in-16-years-after-india-eases-export-curbs-bloomberg.md) | +0.0% | -3.9% |
| RICE | 2019-04-09 | [Slump in rice farm-gate prices due to import liberalization? \| ABS-CBN](https://feedsoft.ai/events/59668-slump-in-rice-farm-gate-prices-due-to-import-liberalization-abs-cbn.md) | +1.3% | +2.2% |
| RICE | 2019-09-05 | [ANALYSIS Plummeting rice prices: How will our rice farmers cope?](https://feedsoft.ai/events/57149-analysis-plummeting-rice-prices-how-will-our-rice-farmers-cope.md) | +1.2% | +0.1% |
| RICE | 2019-09-04 | [Palay prices now lower than that of ‘darak’ \| GMA News Online](https://feedsoft.ai/events/57142-palay-prices-now-lower-than-that-of-darak-gma-news-online.md) | +0.7% | +1.6% |

## Sources

- koreaherald.com: https://www.koreaherald.com/article/1144724

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.