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S. KOREA MAY OPEN MARKET IF RICE TALKS FAIL: MINISTER.
SEOUL, Dec 1 Asia Pulse - South Korea's agriculture minister said Wednesday that if ongoing rice talks fall apart, the country may opt to open its market fully to imports.
"If overtures being made by rice exporters are unacceptable to us, we have no choice but to accept a tariff system," Minister of Agriculture and Forestry Huh Sang-man said in an early-morning radio interview.
Rice tariffication will entail a "full" opening of the market, with the government levying high duties of over 400 per cent so imported rice will cost local consumers about the same as domestically grown rice, he said.
His remarks were construed as rebuffing rice exporters' demands that South Korea raise its import quota and allow the direct sale of more imported rice to consumers in exchange for the extension of a moratorium on rice tariffication.
Nine rice exporters have called on Seoul to grant them a minimum market access of 8 per cent by 2014 and allow 75 per cent of all imported ...
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