South Korea: 2016 Rice Production Update
On November 15, 2016, Statistics Korea (KOSTAT) released its revised 2016 rice production estimate to 4.197 million metric tons (MMT), slightly down from 4.2 MMT, the initial rice production estimate surveyed for early September 2016. This represents three percent lower output than last year’s record crop, reflecting a decline in rice area. Lowered production has also resulted in a 41 percent stocks-touse ratio in MY 2016/17, the highest in several years.
