- 14 Mar 2002
- 21,051
- 18,904
- Thread starter
- #26
The Japanese government plans to release some emergency rice stockpiles to combat soaring domestic prices. On Friday, Eto Taku, the Minister of Agriculture, Forestry, and Fisheries, announced that the government will consider selling a portion of its strategic rice reserves next week. According to Bloomberg's analysis of wholesale price data, rice prices in Japan have surged by 60% year-over-year. In its recent economic outlook report, the BOJ acknowledged the impact of rising rice prices on inflation, prompting a 17-year high in its key policy rate. Japan maintains around one million tons of rice in emergency reserves, roughly one-seventh of Japan's annual rice consumption. As of the end of June, the government has reserves totalling 910,000 tons.
www.japantimes.co.jp
mainichi.jp
The average wholesale price of rice rose to ¥24,655 ($159) per 60 kilogram bag as of December, according to government data. The minister did not give the amount or the date of the release, and added the plan will be discussed in detail on 31 January. Japan places higher tariffs on imports past a limit of 100,000 tons and its high domestic prices stand in stark contrast to other countries. Prices for Thailand white rice, which serve as an Asian benchmark, recently reached the lowest since early 2023. India, the biggest rice exporter, rolled back restrictions on shipments last year. That's benefited global supply, and the U.S. Department of Agriculture forecasts world stockpiles will rise for the first time in four seasons.
Japan plans to sell rice from emergency stockpiles to cut prices
The government will discuss selling part of its strategic rice reserve next week, the agriculture minister said Friday.
Japan preparing to use rice reserves amid soaring prices - The Mainichi
TOKYO (Kyodo) -- Japan's farm minister on Friday said the government plans to release its stockpiled rice for the first time to alleviate distribution