Japan's Koizumi Vows to Lower Rice Prices below 3,000 Yen
Tokyo, May 23 (Jiji Press)--New Japanese agriculture minister Shinjiro Koizumi on Friday pledged to lower retail rice prices to less than 3,000 yen per 5 kilograms through further releases of government-stockpiled rice.
"We'll conclude contracts so that (stockpiled rice) will hit shelves at prices in the 2,000-yen range," Koizumi told a press conference after a cabinet meeting.
To sell stockpiled rice, the government plans to introduce procedures for concluding discretionary contracts with buyers it selects, after it decided to review the conventional system of holding auctions to sell such rice to those who place the highest bids.
The new procedures will start early next week, Koizumi said, adding that rice sold through such contracts "may begin to arrive (in stores) as soon as early June."
Meanwhile, the time when low-priced stockpiled rice will reach retailers is expected to vary by region. Eager to value speed, Koizumi said that "the rice in the 2,000-yen range will be available at any places where it can be delivered quickly."
(2025/05/23-15:45)
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