Japan may start buying back rice to replenish stockpiles
The government has already earmarked funds for the purchase of 150,000 tons of rice to replenish its stockpiles in its fiscal 2026 initial budget.
The Japanese agriculture ministry is poised to commence the purchase of rice to replenish government stockpiles starting in September, according to sources familiar with the matter. The government has allocated funds for the acquisition of 150,000 tons of rice as part of its fiscal 2026 initial budget. The buyback initiative will be deliberated upon during a council meeting scheduled for September 2.
Throughout the past year, the ministry has released 590,000 tons of stored rice for human consumption due to supply shortages and rising prices. The ministry will determine the precise timing of the buyback following an evaluation of supply-and-demand conditions and sales trends.
Rice prices are on the decline as supply conditions improve. Industry associations are advocating for an early buyback. Currently, government rice reserves stand at 320,000 tons, falling short of the recommended 1 million tons due to the releases. The government also intends to sell 150,000 tons of rice produced in 2020, which has been stored for an extended period exceeding the typical five-year timeframe. Replenishing stockpiles is crucial for ensuring food security.
Written by urgent.news from Japan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
