Report Highlights:

Korea’s rice production in 2013 is revised slightly downward to 4.23 million tons from the initial Korean government’s estimate of 4.24 million tons. This revised production estimate still represents a increase of 5.6 percent over last year. The increase in production is due largely to favorable weather since September despite unfavorable weather through August coupled with a steady decline in acreage planted, the lowest since 1980.

General Information:

On November 15, 2013, Statistics Korea (KOSTAT) released its revised 2013 rice production estimate of 4,230,011 metric tons, a slight decrease from the previous PSD update. Despite the lower estimate, it still represents an increase of 5.6 percent from last year due in large part to favorable weather during the latter part of the growing period in tandem with fewer than normal natural disasters such as typhoons. The PSD has been revised accordingly.

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 to lower it from 74 percent to 72 percent to reflect current production practices. Local processors have reportedly polished rice to a greater degree in response to consumer demand for well-milled high quality rice. 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. The change in milling rates will result in a production decrease on average of about 2-3 percent. However, as MAFRA maintains its official data series based on 9 degrees, PSD milling rate figures follow it