Japan’s newly appointed Farm Minister Shinjiro Koizumi announced Monday that the government will release 300,000 tonnes of rice from national reserves directly to major retailers in an effort to combat a sharp surge in consumer prices.
The move shifts away from previous auction-based strategies that failed to lower retail prices and comes amid mounting public pressure and low approval ratings for the ruling government ahead of July’s upper house elections.
Koizumi, son of former Prime Minister Junichiro Koizumi, said the rice will begin appearing in stores by early June. The plan targets retailers handling over 10,000 tonnes of rice annually, and more reserves may be released based on demand.
The announcement follows the resignation of former Farm Minister Taku Eto, who faced backlash after admitting he never buys rice, worsening public frustration.
Rice prices jumped 98.4% year-on-year in April due to poor harvests from extreme heat, panic buying, and suspected hoarding by traders. Officials hope the new strategy will stabilize prices and ease the financial burden on consumers.
