Japan to hold third auction of stockpiled rice next week
Japan’s agriculture ministry will hold its third rice auction from April 23–25, offering 100,000 tons of 2023 stockpiled rice, including premium varieties like “Masshigura” and “Ten no Tsubu.” In the last auction, Zen-Noh bought 94% of the 70,336 tons offered. Average bid prices reached ¥20,722 per 60 kg, with rice expected in stores by late April.
The agriculture ministry said Wednesday that it will hold the third auction of its reserved rice April 23-25.
In total, 100,000 tons of stockpiled 2023 rice will be auctioned, including such brand-name varieties as Aomori Prefecture’s “Masshigura” along with Fukushima Prefecture’s “Ten no Tsubu” and “Hitomebore.”
In the previous release of government-held rice, which totaled 70,336 tons, the National Federation of Agricultural Cooperative Associations, or Zen-Noh, purchased 66,271 tons, or 94%.
There were three other successful bidders — the Fukui Prefectural Agricultural Cooperative, rice wholesaler Kawacho Rice and Zenshuren, the federation of staple food collection cooperatives in the country.
Accepted bids averaged ¥20,722 per 60 kilograms. The auctioned rice is expected to hit store shelves late this month.
Zen-Noh also bought more than 90% of some 140,000 tons of stockpiled rice put up in the initial auction round.
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Source : Japan Times
