Over 55,000 tons of Vietnamese rice allocated by South Korea quota

According to the Vietnam Food Association (VFA), the Korea Agro-Fisheries & Food Trade Corporation (KAFTC) has announced the tariff rate quota (TRQ) schedule for 2025. The bidding notices are planned to be issued four times in the first half of the year (from February to May) and three to five times in the second half, depending on domestic conditions.

Accordingly, the country-specific quota (CSQ) for milled rice is allocated as follows: 157,195 tons for China, 132,304 tons for the United States, 55,112 tons for Vietnam, 28,494 tons for Thailand, and 15,595 tons for Australia, with an additional global quota of 20,000 tons.

The FAO estimates South Korea’s rice production in 2024 at 4.783 million tons, a decrease of approximately 2.3% compared to the previous year. This estimate is lower than the five-year average of 4.967 million tons. The decline is attributed to reduced domestic consumption and government efforts to cut rice cultivation areas while promoting the production of alternative crops such as soybeans.

In South Korea, rice is typically planted between May and June and harvested between September and October. The FAO forecasts the country's rice imports in 2025 to reach 460,000 tons.