South Korea will export 22 tons (t) of rice to Japan, where rice prices have surged. This is the largest amount in 35 years since relevant statistics were compiled in 1990.
According to related industries on the 21st, NongHyup International imported 2 tons of rice from Japan last month and sold it this month. An additional 20 tons is expected to be brought in next month. NongHyup International, the Japanese branch of NH NongHyup Trade, imported rice from South Korea for the first time since its establishment in 1999.
The NongHyup International website also features news on the sale of Korean rice. The prices including shipping costs are 9,000 yen (about 90,000 won) for 10 kg and 4,104 yen (about 41,000 won) for 4 kg. The tariff is 341 yen (about 3,400 won) per kg, including customs costs and domestic transportation expenses in Japan.
With Japanese rice prices nearly doubling in a year, price competitiveness has emerged. According to the Japan Ministry of Agriculture, Forestry and Fisheries, a survey conducted from the 31st of last month to the 6th of this month at 1,000 supermarkets nationwide found that the average price of 5 kg of rice, including tax, is 4,214 yen (about 42,000 won).
According to the Korea Agro-Fisheries & Food Trade Corporation (aT), there are statistics showing that South Korea exported about 10 tons of rice to Japan in 2011-2013 and in 2016.