The government of South Korea is aiming to promote rice products in order to double the size of the country's sluggish rice industry that has been on a steady decline since 2002 as Korean tastes have diversified with escalating rice prices.Some of the plans include designating a particular day of the year for Korean rice cake or tteok is part of the plan. The idea is to get more people into chain restaurants that serve spicy Korean rice cake or tteokbokki.
By selling some older public rice stocks at cheaper-than-market prices, the government will encourage food companies to make more rice-made products such as chips, drinks and even ramyeon. South Korea's rice demand has dropped almost 8 % over the past five years from over 4 million MT consumed in 2002 to less than 3.8 million MT in 2007.
By selling some older public rice stocks at cheaper-than-market prices, the government will encourage food companies to make more rice-made products such as chips, drinks and even ramyeon. South Korea's rice demand has dropped almost 8 % over the past five years from over 4 million MT consumed in 2002 to less than 3.8 million MT in 2007.
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