A total of 20 companies on Tuesday applied to purchase a combined 110,000 tons of the government’s stockpiled rice, a day after the farm minister said it will provide rice to the market through direct contracts to curb soaring prices more effectively.
The total amount is equivalent to over 30 percent of the 300,000 tons planned for release through direct sales contracts with major retailers, not through auctions as in the releases earlier this year.
New Agriculture, Forestry and Fisheries Minister Shinjiro Koizumi said the government received Tuesday purchase applications from 19 companies, including the operator of discount store chain Don Quijote and e-commerce giant Rakuten Group Inc., for approximately 90,000 tons of stockpiled rice.
Japanese Agriculture, Forestry and Fisheries Minister Shinjiro Koizumi attends a press conference in Tokyo on May 27, 2025. (Kyodo) ==Kyodo
Supermarket giant Aeon Co. said separately the same day that it has applied for around 20,000 tons of stockpiled rice.
The average price of the staple food at supermarkets has doubled from a year earlier in recent months despite the government’s efforts to lower prices through the release of its reserve rice.
Koizumi told reporters that contracts with some companies would be finalized on Tuesday, with deliveries beginning possibly Thursday.
He also noted the government will consider revising the current eligibility criteria, which limits contracts to major retailers, to enable distribution to smaller supermarkets and rice shops.
Aeon plans to begin selling the rice in stores across Japan from early June at around 2,000 yen ($14) per 5 kilograms, in line with the government’s target.
On Monday, Koizumi said that the government would sell its rice stockpiles through direct contracts, bypassing the auction system and making a more proactive shift toward price intervention that had previously been avoided.
Appearing before a parliamentary committee to present his policy views Tuesday, he stressed that the ministry’s role is to “ensure stable food supply” and that it aims to “dispel public anxiety” over soaring rice prices.
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AloJapan.com