AGL 38.00 No Change ▼ 0.00 (0%)
AIRLINK 215.25 Increased By ▲ 1.34 (0.63%)
BOP 9.50 Increased By ▲ 0.08 (0.85%)
CNERGY 6.59 Increased By ▲ 0.30 (4.77%)
DCL 8.67 Decreased By ▼ -0.10 (-1.14%)
DFML 42.54 Increased By ▲ 0.33 (0.78%)
DGKC 98.00 Increased By ▲ 3.88 (4.12%)
FCCL 36.26 Increased By ▲ 1.07 (3.04%)
FFBL 88.94 No Change ▼ 0.00 (0%)
FFL 17.89 Increased By ▲ 1.50 (9.15%)
HUBC 127.40 Increased By ▲ 0.50 (0.39%)
HUMNL 13.81 Increased By ▲ 0.44 (3.29%)
KEL 5.33 Increased By ▲ 0.02 (0.38%)
KOSM 7.10 Increased By ▲ 0.16 (2.31%)
MLCF 44.74 Increased By ▲ 1.76 (4.09%)
NBP 59.49 Increased By ▲ 0.64 (1.09%)
OGDC 222.50 Increased By ▲ 3.08 (1.4%)
PAEL 40.95 Increased By ▲ 1.79 (4.57%)
PIBTL 8.17 Decreased By ▼ -0.01 (-0.12%)
PPL 195.00 Increased By ▲ 3.34 (1.74%)
PRL 38.79 Increased By ▲ 0.87 (2.29%)
PTC 27.32 Increased By ▲ 0.98 (3.72%)
SEARL 105.45 Increased By ▲ 1.45 (1.39%)
TELE 8.70 Increased By ▲ 0.31 (3.69%)
TOMCL 35.45 Increased By ▲ 0.70 (2.01%)
TPLP 13.75 Increased By ▲ 0.87 (6.75%)
TREET 25.50 Increased By ▲ 0.16 (0.63%)
TRG 71.98 Increased By ▲ 1.53 (2.17%)
UNITY 33.27 Decreased By ▼ -0.12 (-0.36%)
WTL 1.71 Decreased By ▼ -0.01 (-0.58%)
BR100 12,038 Increased By 144.4 (1.21%)
BR30 37,447 Increased By 592.7 (1.61%)
KSE100 111,726 Increased By 1302.9 (1.18%)
KSE30 35,182 Increased By 404.1 (1.16%)

South Korea said on Monday it had agreed to import about 90,000 tonnes of rice from India up until 2014 and 20,000 tonnes from Egypt, in a deal to maintain rice import quotas that opponents say are not worth the costs. The deputy agriculture minister said South Korea had also agreed to cut import tariffs on Canadian peas for feed and rappelled oil, and look into importing poultry, oranges and beef from Argentina.
The concessions, made in order to win support from rice-exporting countries to extend a quota system that expired last year, angered opposition lawmakers and farmers, who have criticised Seoul for giving too much up to reach a deal.
"South Korea separately decided to import a total of 20,000 tonnes of rice from Egypt and annually 9,121 tonnes of rice from India during the quota-extended period," Park Hae-sang, deputy minister of agriculture ministry told a news conference.
The deals to import the rice, to be re-exported as food aid to poor countries such as North Korea and not consumed domestically.
Park said Seoul would look into importing Argentinean poultry, oranges and beef if the South American country provided all the required exports documentation.
South Korea last year held a series of bilateral talks with nine rice-exporting countries - the United States, China, Thailand, Australia, India, Pakistan, Argentina, Egypt and Canada - to extend its rice quota system protecting local farmers.
After the talks, Seoul said it had agreed to almost double its rice import quotas gradually to 408,700 tonnes a year by 2014, starting from this year.

Copyright Reuters, 2005

Comments

Comments are closed.