USDA GAIN: Oilseeds, Cotton, Sugar, Grain and Feed
28 November 2012
USDA GAIN: Republic of Korea Rice Production Revision
Estimated rice production in 2012 is revised downward to 4 million tons from official USDA estimate of 4.1 million tons.
Report Highlights:
Estimated rice production in 2012 is revised downward to 4 million tons from official USDA estimate of 4.1 million tons. This production represents a decrease of 5.2 percent from last year. The reduction is due largely to unfavorable weather coupled with a steady decline in acreage planted, the lowest since 1980.
Rice Production Hits 30-Year Low:
On November 19, 2012, Statistics Korea (KOSTAT) released its final 2012 rice production estimate of 4,006,185 metric tons, down 5.2 percent from last year due in large part to unfavorable weather coupled with a steady decline in acreage planted. Korean rice production remains at its lowest point in more than 30years (KS1247). Since reaching its peak in the 1970’s, rice production has been trending downward as older farmers retire without being backfilled and consumers’ diets change. The PSD has been revised accordingly.
Korea: Rice Area, Yield and Production
Korea: 2012 Rice Area, Yield and Production
Applicable Milling Rate from Brown Rice to Milled Rice:
Based on the outcome of an industry survey on November 2011, the Ministry of Food, Agriculture, Forestry & Fisheries acknowledged that the current average milling rate (paddy to milled) is too high and is considering lowering it from 74 percent to 72 percent to reflect current production practices. Local processors are reportedly now polishing rice to a greater degree in response to consumer demand for well-milled high quality rice. As shown in the table below, milling is said to have climbed from 9 to 12 degrees. The higher you go up the 12 degree spectrum, the whiter the rice. The shelling rate to brown rice from paddy rice remains unchanged at 80 percent.
The Korean government released rice production statistics that show a comparison of milled rice production based on milling rates of 9 degrees and 12 degrees as below. The change in milling rates will result in a production decrease on average of about 2-3 percent. However, as MIFAFF maintains its official data series based on 9 degrees, PSD milling rate figures will remain unchanged.
November 2012
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