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Japan to Set up Minister-Level Meeting to Address Rice Supplies
- The Japanese government began selling 300,000 tons of stockpiled rice directly to retailers on Saturday to address soaring prices nationwide.
- The government switched from auctioning reserve rice to direct contracts with retailers like Ito-Yokado and Iris Ohyama to curb rising rice costs.
- Retailers sold 5-kilogram bags at about 2,160 yen, roughly half the average consumer price, attracting hundreds of customers who often lined up before store openings.
- Agriculture Minister Shinjiro Koizumi emphasized the need to stabilize the rice market, noting that prices have increased significantly compared to last year—doubling on average and rising by as much as 2.5 times in certain areas.
- The government plans a minister-level meeting this week to stabilize rice supply and prices ahead of a summer election amid public concern over inflation.
13 Articles
13 Articles
On the 3rd, Agriculture Minister Koizumi Shinjiro announced that the government is considering buying back government stockpiled rice that was released in public competitive bidding. In addition to distribution being stagnate, the release of stockpiled rice through discretionary contracts to be handed directly to retailers has begun, causing the price of stockpiled rice that was auctioned off to rise. Re-releasing it at a lower cost through disc…
Long lines for cheap stockpiled rice sold directly to retail firms | The Asahi Shimbun Asia & Japan Watch
Stockpiled rice sold by the government directly to retail companies hit store shelves on May 31 and long lines of customers were waiting to buy the cheaper grain. Supplies quickly sold out.
Cheaper stockpiled rice starts hitting store shelves in Japan
The Japanese government's stockpiled rice released through direct contracts with retailers began hitting store shelves Saturday, with consumers flocking to the cheaper products. Major supermarket operator Ito-Yokado Co and home appliance company Iris Ohyama Inc were the first to start selling the rice at some of their shops, both setting…
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