South Korea may use surplus rice for animal feed
South Korea, the world’s third- largest corn buyer, may use some of the nation’s surplus rice to make animal feed to help stabilize the domestic rice market, according to the farm ministry.
About 360,000 metric tons of rice produced in 2005 may be turned into feed, the Ministry for Food, Agriculture, Forestry and Fisheries, said.
South Korea, which is 99 percent self-sufficient in rice, imports almost all its needs for corn and wheat, used to make animal feed. Using the rice for feed may reduce demand for overseas shipments of the two grains.
The North Asian nation currently has 1.4 million tons of rice in reserves, almost twice the 720,000 tons considered adequate for emergencies, Yonhap News reported.
[Source: Bloomberg]
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