Japan to sell more rice reserves as prices soar

Japan's wholesale inflation accelerates, signal sticky cost pressure

TOKYO: Japan's annual wholesale inflation hit 4.2 per cent in March, accelerating from the previous month in a sign of persistent cost pressures that add to corporate pain from uncertainty over US tariff policy. © New Straits Times Press (M) Bhd

For the first time since the establishment of its strategic rice reserves, Japan has opened its stock to cope with the massive price increase. On Wednesday, 9 April, the Japanese government announced that this measure will continue until the summer.

Japan to sell more rice reserves as prices soar

Japan will sell more rice from its emergency stockpile through July in an attempt to stabilise soaring prices, the agricultural minister said Wednesday.

Allow NFA to buy, sell rice —Abalos

Senatorial candidate and former Interior Secretary Benhur Abalos called for the restoration of the regulatory powers of the National Food Administration (NFA) to help stabilize rice prices.

Faced with a 55 per cent increase in the price of domestic staple food, Tokyo opened its food reserves while the Nikkei index falls by 7.8% and the fourth world economy struggles to maintain stability on two fronts

Does Japan not have enough rice? Why is it dipping into its reserves?

Japan is facing a rice crisis. The price of the staple is soaring, having risen more than 50 per cent since last year, because of a shortage. Restaurants increased rates and supermarkets imposed buying limits. The Japanese government is tapping into its emergency stockpiles, usually reserved for earthquakes and tsunamis