In a bold move to combat surging rice prices, the Japanese government officially opened the next round of stockpiled rice sales on Wednesday—triggering immediate interest from retailers across the country.
Within the first hour, over 30 buyers submitted applications, according to Agriculture Minister Koizumi Shinjiro, signaling the urgency and demand from distributors eager to meet consumer needs.
Rice prices in Japan have nearly doubled over the past year, prompting the government to act decisively. Minister Koizumi announced that 200,000 tons of rice will be released, starting with 100,000 tons available under no-bid contracts, along with an additional 20,000 tons left over from the previous round. The remaining stock will be offered once this initial supply is sold.
Who can apply?
Most retailers and rice distributors equipped with milling machinery are eligible to participate. There’s no limit on the volume per application, but all rice purchased must be made available to consumers by August.
However, not everyone is rushing in. Some sellers who previously secured government rice are prioritizing clearing their existing inventory before committing to more.
Crackdown on Profiteering
Minister Koizumi is also pushing for tighter regulations to prevent exploitation. He plans to submit a bill this week that would ban the resale of government-supplied rice between distributors. Those caught reselling at inflated prices could face up to one year in prison or a fine of 1 million yen.
“We’re committed to getting rice into the hands of people who actually need it—not those looking to profit,” Koizumi told reporters on Tuesday.
Why this matter:
For consumers watching their grocery bills climb, this initiative could bring much-needed relief. For retailers, it’s both an opportunity and a responsibility. As food prices remain a pressing concern worldwide, Japan’s strategy could serve as a blueprint for balancing market supply and social equity.
