date:Jul 18, 2014
ED
The level of any import duty is yet to be finalised, but government officials and industry experts have said it would likely be around 300-500 percent, bringing prices for imported rice in line with local grain.
Under the current WTO agreement, South Korea must buy 408,700 tonnes of foreign rice this year, or 9 percent of its demand. The amount that must be purchased abroad has gradually increased from 51,000 tonnes in 1995.
China usually accounts for 50-60 percent of total imports, the Un