Japan weighs doubling stockpiled rice release to rein in price surge

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  • Japan weighs doubling stockpiled rice release to rein in price surge

THE Japanese government is considering roughly doubling the supply of stockpiled rice to about 600,000 tonnes, as rice prices remain at near record highs amid a shortfall, sources close to the matter said Thursday.
The government is studying releasing 300,000 tonnes of reserve rice over three months through July, in addition to 321,000 tonnes auctioned in three tranches between March and April.
If the government goes ahead with the additional release, its stockpile will be down to around 300,000 tonnes, about a third of what is generally regarded as the appropriate reserve level. That may raise concerns over how the government will respond if there is another poor harvest due to a natural disaster or bad weather. — Kyodo

Source: The Global New Light of Myanmar

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