Seoul: The agriculture ministry announced plans to release an additional 25,000 tons of rice from its reserves to stabilize the rising prices caused by a supply shortage. This move comes as the producer price of a 40-kilogram bag of rice recently exceeded 220,000 won (US$158), marking the first instance in nearly four years.

According to Yonhap News Agency, the average retail price for a 20-kilogram bag of rice has risen to 61,000 won, reflecting a 20 percent increase compared to the previous year. This price surge has prompted the Ministry of Agriculture, Food and Rural Affairs to take action, following its earlier release of 30,000 tons of rice starting on August 25. The initial release aimed to address rising prices linked to shipment delays caused by frequent rainfall during Korea's early harvest season.