S Korea to impose higher tariffs on rice imports from 2012: reports

South Korea plans to levy higher tariffs on rice imports starting next year, moving up the previously scheduled date from 2015, local media reported Tuesday.


The country seeks to impose higher tariffs on imported rice instead of the current quota limits set under the minimum market access (MMA) regime, with rice stocks getting piled up and domestic rice consumption in steep decline.


The agricultural ministry, which drew up a five-year blueprint aimed at boosting the domestic rice industry, believes the unspecified higher tariff will help control the inflow of rice imports and thus protect the already heavily subsidized rice industry, according to reports.


The ministry also reportedly aims to encourage rice consumption at home and expand rice exports from the current 50,000 tons to 100,000 tons by 2015 as part of the five-year plan.
(Source:http://news.xinhuanet.com)