(Update 2) Japan to Curb Prices of Stockpiled Rice
Tokyo, May 23 (Jiji Press)--The Japanese government plans to curb retail prices of stockpiled rice to some 2,000 yen per 5 kilograms, agriculture minister Shinjiro Koizumi said Friday.
The government plans to launch procedures on Monday to sell stockpiled rice under discretionary contracts. Since March, it has held auctions to sell such rice to those who place the highest bids.
Koizumi told reporters in Tokyo that under discretionary contracts, the government will release 300,000 tons of stockpiled rice and increase the amount if demand arises.
Rice sold under discretionary contracts is expected to reach consumers as soon as early June, he said.
The government aims to sell stockpiled rice at about 10,000 yen per 60 kilograms under discretionary contracts, compared with some 20,000 yen under auctions.
(2025/05/23-22:56)
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