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[Graphic News] Rice farming revenue falls despite rising efficiency
By Won Ho-jungPublished : March 27, 2016 - 18:13
The revenue earned from rice farming in Korea fell 6.1 percent on-year despite lowered production costs and increased yields in 2015, data from Statistics Korea showed Friday.
Production costs for paddy rice fell 4.1 percent from 721,000 won ($616) to 692,000 won per 1,000 square meters in 2015, due to reduced spending on labor and equipment. Despite this, the yield rose from 520 kilograms to 542 kilograms per 1,000 square meters.
However, rice farmers saw their total revenue decline because of a fall in market prices last year. Total revenue per 1,000 square meters fell from 1,058,000 won to 994,000 won.
