Prices of rice harvested this year have posted a record high as the crop declined due to an unprecedentedly long monsoon season and series of typhoons this summer. 

The price of 80 kilograms of rice has risen by more than 14 percent to a record of around 219-thousand-300 won. 

This comes as the Ministry of Agriculture, Food and Rural Affairs has forecast that this year’s rice output will slip three percent from last year to reach some three-point-six million tons.

Such a rise in prices comes as the government is set to decide on a final purchase price next month.