Japan Govt to Release Up to 210,000 Tons of Stockpiled Rice
Japan will release up to 210,000 tons of stockpiled rice to address high prices and distribution issues after the 2024 harvest. The agriculture ministry plans to auction the rice with a repurchase condition. This marks the first release for distribution facilitation, following revised guidelines in January. The move aims to stabilize prices and encourage market supply.
Tokyo, Feb. 13 (Jiji Press)–The Japanese government has decided to release up to about 210,000 tons of its stockpiled rice as rice prices remain high after the new crop harvested in 2024 hit the market, it was learned Thursday.
The move is aimed at easing distribution bottlenecks that are hampering rice procurement by major buyers of rice from farmers. It will be the first release of the stockpiled rice for the purpose of facilitating distribution.
The agriculture ministry is expected to announce the move on Friday. It is considering selling the rice to buyers through auction, on the condition that it will repurchase the same grade and amount of rice within a year.
In the past, releases of the stockpiled rice were limited to those in response to poor harvests and major disasters. But the ministry revised its guidelines in January to release the rice to ensure smooth distribution.
“I think various people are stockpiling (rice),” agriculture minister Taku Eto said at a press conference on Friday. “If the government shows its stance, it could encourage those people to put their rice on the market, leading to stable prices.”
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Source : Nippon
