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[Graphic News] Rice farmers’ net income hits 20-year high in 2021

By Nam Kyung-don

Published : April 13, 2022 - 10:01

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Rice farmers in South Korea posted the largest net profit in 20 years in 2021 thanks mainly to favorable weather conditions, data showed.

Rice farmers’ net income reached some 502,000 won ($414.2) per 1,000-square-meter paddy last year, up 13.4 percent from a year earlier, according to the data compiled by Statistics Korea.

The amount represents the highest net profit from rice cultivation since the 511,600 won recorded in 2001.

The statistics agency said local farmers’ net income rose sharply in 2021, as their gross income expanded at a faster pace than production costs on the back of good weather. (Yonhap)

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