Key Facts
• May 26: Government announces first discretionary contract for rice stockpile sale.
• 30,000 tons of rice from 2021 and 2022 harvests to be sold.
• Sale targets major retailers handling over 10,000 tons annually.
• Average price: $110 per 60 kg of brown rice; retail price: $20 per 5 kg.
• Prime Minister Ishiba commends Minister Koizumi for swift action within six days of appointment.
• New discretionary contract method expected to ensure feasibility and affordability.
Summary
Prime Minister Ishiba praised Agriculture Minister Koizumi for his rapid action in announcing the first discretionary contract for rice stockpile sales just six days after assuming office. The government plans to release 30,000 tons of rice from the 2021 and 2022 harvests, targeting major retailers handling over 10,000 tons annually. The average price is set at $110 per 60 kg of brown rice, translating to approximately $20 for 5 kg at retail. This innovative approach aims to ensure affordability and feasibility, with the government committed to taking all necessary measures to achieve these goals.
