US, S Korea fulfill rice quota deal

SEOUL, Jan 19: Following a year full of obstacles to overcome, the USA and the Republic of Korea (ROK) finally fulfilled contracting requirements for the US country-specific quota (CSQ) agreement, report agencies.

The CSQ agreement called for 132,304 metric tonnes (MT) milled basis, of annual US rice purchases as part of South Korea's World Trade Organisation (WTO) commitments.

The tenders were scheduled at regular intervals throughout the year to help stagger shipping periods to South Korea, although prior to the CSQ being signed, the tenders were all typically concentrated at the end of year.