The Ministry of Agriculture, Food and Rural Affairs said on the 31st that the "Grain Supply and Demand Management Committee (hereinafter the committee)," which discusses grain supply and demand policy, has been launched.
The committee is a statutory deliberative body established under the revised Grain Management Act that took effect this month. It is an organization of 15 members, including producers, distributors, consumer group representatives, and officials from the Ministry of Agriculture, Food and Rural Affairs, and the Chairperson is the Vice Minister of the Ministry of Agriculture, Food and Rural Affairs.
Going forward, the committee plans to deliberate on the grain supply and demand plan, supply and demand measures for key periods such as the harvest season, and policy matters related to the production, distribution, and consumption of grain. An official from the Ministry of Agriculture, Food and Rural Affairs said, "We will establish a decision-making system in which stakeholders in the grain industry discuss and decide policy directions together, moving away from government-centered supply and demand management."
At the launch ceremony that day, the Commissioners agreed to draw up detailed operating rules so the committee can function as a practical deliberative body for grain policy. They also decided to prepare a basis for establishing sector-specific subcommittees so discussions can cover not only rice but also key grains such as wheat and soybeans.
Under the Grain Management Act, the thresholds that require the government to implement supply and demand measures are: ▲ when excess production is 3%–5% of total production ▲ when prices from July to September fall 5%–8% below the average year. The committee finalized the criteria within the ranges set by law that day. The committee decided that if excess grain production is 3% or more of total production, or if prices from the previous July to September fall 5% or more below the average year, the government must implement supply and demand measures.
Vice Minister Kim Jong-gu of the Ministry of Agriculture, Food and Rural Affairs said, "We will more firmly establish a grain supply and demand management system that proactively responds to market changes based on social consensus."