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Japan to repurchase 210,000 tons of rice reserves to stabilize prices
Japan's Minister of Agriculture, Forestry and Fisheries, Norikazu Suzuki, has announced a plan to repurchase 210,000 tons of government rice reserves. This move follows the release of reserves during the previous year's rice shortage.
The decision comes amid concerns over a potential collapse in rice prices. Due to a combination of high existing stocks of last year's rice and a bountiful new harvest, new rice is being sold at prices significantly lower than the previous year's stock. In some regions, new rice prices are reported to be 40% to 50% lower than last year.
While the government aims to stabilize the market, some producers and industry experts have criticized the scale of the repurchase, describing it as insufficient to prevent further price drops. The Liberal Democratic Party has also submitted an emergency resolution to the Ministry to strengthen food security and support producers.
Entities
Liberal Democratic Party · Ministry of Agriculture, Forestry and Fisheries · Norikazu Suzuki
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] A price inversion is occurring where newly harvested rice is significantly cheaper than the previous year's stock. joetsu.yukiguni.town · news.cube-soft.jp
- [○ 1 SOURCE] Minister Norikazu Suzuki announced a plan to repurchase 210,000 tons of government rice reserves that were released last year. news.cube-soft.jp
- [○ 1 SOURCE] The Ministry of Agriculture, Forestry and Fisheries expects this year's rice harvest to slightly exceed previous averages across 24 prefectures. news.cube-soft.jp
- [○ 1 SOURCE] New rice prices are reportedly 40% to 50% lower than the previous year. news.cube-soft.jp
- [○ 1 SOURCE] Producers have expressed concern that the repurchase of 210,000 tons is insufficient to stabilize falling prices. news.cube-soft.jp