Japan Govt to Hold 2nd Auction of Stockpiled Rice Next Week
Tokyo, March 19 (Jiji Press)--Japan's agriculture ministry said Wednesday that it will hold an auction of about 70,000 tons of government-stockpiled rice for three days from March 26.
The government has decided to release around 210,000 tons of reserve rice, with an aim to ease the distribution bottlenecks and hold down surging prices of the staple food.
Some 150,000 tons were put up for the first round of tender conducted March 10-12, with about 140,000 tons, or some 94 pct the total, drawing successful bids. The remaining 70,000 tons are planned to be released through the upcoming second round of auction.
Rice brands subject to the upcoming auction include Haenuki from Yamagata Prefecture, Tennotsubu from Fukushima Prefecture and Koshihikari from Niigata Prefecture.
The rice will likely hit store shelves after being transferred to logistics operators from mid-April.
(2025/03/19-14:25)
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