The government has decided to additionally purchase 157-thousand tons of locally-produced rice in a bid to stabilize prices.
 
The decision was reached during a Cabinet meeting chaired by Prime Minister Hwang Kyo-ahn on Tuesday.
 
The government will set apart the 157-thousand tons of rice from the market to stabilize supply and demand. The move comes after the government purchased 200-thousand tons last year out of an oversupply of 357-thousand tons of rice.
 
The expected bidding price will be set after taking into consideration local prices at the time of the bidding. The government plans to apply the same prices all across the nation.