rice next month to stem rising prices, an official said Wednesday. The Ministry for Food, Agriculture, Forestry and Fisheries will sell reserves of the key staple food at public auctions on April 8, said official Bae Wu-young.
Rice is one of dozens of items the South Korean government recently said it would seek to shield from price increases amid surging global costs for oil and commodities.
South Korea has normally released rice reserves each year but the amount to be sold next month is more than double the 18,000 metric tons (19,840 tons) offered last year, Bae said.
If the initial release fails to curb rising rice prices, the ministry plans to release an additional 40,000 metric tons (44,090 tons), he said.
