This is the first time for the government to make a release from its stockpile to stabilise the rice market.

The Japan News

TOKYO – The government on Monday began soliciting bids for 150,000 tons of stockpiled rice reserved for emergency use, which is being released to rein in soaring prices.

Forty-one varieties of rice, including Hitomebore and Haenuki, will be delivered to the successful bidders. The rice is expected to hit the supermarket shelves and other stores as early as late March.

The question is whether the release will be enough to quiet prices.

Previously, the Agriculture, Forestry and Fisheries Ministry had only released rice from its stockpile during emergencies, such as natural disasters. However, due to the stubbornly high price of rice, the ministry in January revised its policy for stockpiling to allow for releases to smooth out distribution.

This is the first time for the government to make a release from its stockpile to stabilize the rice market.

Businesses that buy and collect more than 5,000 tons of brown rice a year were allowed to place a bid. According to the ministry, 89 such businesses, including the National Federation of Agricultural Cooperative Associations (Zen-Noh), were eligible to participate. The ministry has not disclosed the names of those who bid or how many businesses placed a bid.

Bidders were said to have submitted documents stating how much rice they wished to purchase and at what price by variety, production area, storage warehouse and other criteria by 10 a.m. Monday.

In the bidding process, the ministry registers each bidder’s information and winners are selected in order of the highest price offered, provided that the offer exceeds the undisclosed minimum sales price. The bidding could be over if the entire release was sold Monday.

Bids on unsold rice, if there is any left, will be accepted until 4 p.m. Tuesday.

The 150,000 tons consist of 100,000 tons from 2024’s harvest and 50,000 tons from 2023.

The results of the bidding on Monday could be announced around Wednesday.

The government will release another 60,000 tons of government-held rice as soon as possible. The ministry will consider further releases if this does not produce the desired effect.

Generally, the government purchases domestically grown rice of the same quality and quantity as what it has released from the stockpile within one year. However, since it is not yet clear how this year’s crop will turn out, the ministry will be able to buy back the rice it needs over a longer time frame through discussions with successful bidders.

In February, the price for five kilograms of Koshihikari rice in Tokyo’s 23 wards was ¥4,363, the highest figure on record, according to retail price statistics released by the Internal Affairs and Communications Ministry on Feb. 28. The price has risen for 10 consecutive months, since May last year.

Published Date: March 11, 2025