W11 2026: Milk Powder

W10 2026: Coffee

September 2025 Outlook Report: Meat

September 2025 Outlook Report: Coffee, Sugar, Tea, and Cocoa

Agricultural Commodities Market, 13/11: Rubber Rebounds, Coffee Continues to Decline

World rubber prices broadly recovered, with many contracts rising by more than 3%; domestic coffee extended its losing streak for a third consecutive session, while pepper prices were flat and some types of raw rice for export rose in price.

“Being recognized for 50 years of farming is rewarding… Young farmers must prepare their technology and sales channels”

“I feel deeply rewarded, as though the years I have spent working hard and making a living through farming have been recognized. There are many farmers more deserving than I am, so I feel honored and grateful to receive such a major award.” These were the words of Park Yun-gang, auditor of the Korea Advanced Farmers Federation, upon receiving the Order of Industrial Service Merit, Gold Tower, the highest honor on the occasion of the 31st Farmers’ Day. He has farmed for 50 years in Gijang, Busan, growing a range of crops, from rice to flowers and fruit, and practicing diversified farming. He has also consistently worked to protect farmers’ rights and interests and foster the next generation of farm managers. Park received the Order of Industrial Service Merit, Gold Tower, in recognition of his contributions to amending laws to foster the next generation of farmers and raising the gift-value limit for agricultural products. After graduating from school in 1976, he took up farming in earnest. Following his involvement in 4-H, he was selected in 1990 as a next-generation farm manager specializing in rice cultivation. He later ran a contract farming company, but after facing financial difficulties, he switched to floriculture. “My wife and I have grown and sold flowers for nearly 35 years. Even now, I continue farming, producing materials for floriculture and running a pear orchard,” he said. He also took an active role in farmers’ organizations. Starting as head of the Jang’an-eup chapter of the Korea Advanced Farmers Federation, he went on to serve as head of its Gijang County and Busan Metropolitan City associations, and now serves as an auditor of the central association. His daughter, Park Shin-young, 40, was also selected as a young startup farmer and is carrying on the family business, growing floriculture materials, pears and rice. Drawing on his own experience, Park urged young farmers to prepare thoroughly. “Unlike young people who take over their parents’ farms, those entering farming for the first time lack mentors who can teach them about farming or offer advice,” he said. “They should carefully consider not only cultivation techniques, but also the scale of investment, sales channels and business plans before starting out in agriculture.” He also stressed that the government should strengthen communication with farmers in the field when implementing major agricultural policies. “Major agricultural policy issues, such as a comprehensive survey of farmland and a review of joining the CPTPP, are directly connected to farmers’ lives,” Park said. “No matter how well-intentioned a policy is, before implementing it, the impact it will have on the ground...”