TOKYO - Japan's new agriculture minister has pledged to make rice available at 2,000 yen (about $14) per 5 kilograms at retail outlets like supermarkets by early June.
Shinjiro Koizumi said on a TV program Friday night that the government plans to commence procedures to sell its stockpiled rice directly to retailers, bypassing auctions that have prevented government control over prices.
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Koizumi, who assumed his post on Wednesday after his predecessor resigned following a remark about gifts of rice from supporters, said that under discretionary contracts, the government will release 300,000 tons of stockpiled rice initially and may provide additional supplies if demand arises.
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The reserve rice sold under discretionary contracts is expected to reach store shelves as soon as early June, he said.
The average price of rice sold at Japanese supermarkets reached a record 4,268 yen per 5 kilograms in early May, roughly double last year's level, partly due to a poor harvest in the summer of 2023.
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According to official data released Friday, Japan's rice prices in April went up a whopping 98.4 percent compared to the same month a year earlier, a record surge since the government started keeping comparable data in 1971.