Japanese government to auction stockpiled rice on March 10

The government will auction off part of its rice stockpiles on March 10, the agriculture ministry said Monday.

The government last month decided to sell 210,000 tons out of its rice stockpiles to relieve distribution bottlenecks. To be put up in the first tender this time are 150,000 tons for sale to major rice dealers, on the condition that the government will buy back rice from successful bidders in the future.

The rice to be auctioned in the first round on March 10 is likely to hit store shelves as early the end of this month.

It is the first time that the government releases stockpiled rice to ensure smooth distribution. Previously, it limited releases to cases of seriously poor harvests and large-scale disasters.

For the first batch of rice set for auction, the government has disclosed information such as the locations of storage warehouses, years of harvest, places of origin and brands. Masshigura from Aomori Prefecture, Haenuki from Yamagata Prefecture and Hitomebore from Miyagi Prefecture, are among the rice brands for sale.

Of the 150,000 tons, 100,000 tons were harvested in 2024 and the rest in 2023. Successful bidders will be required to pick up the rice by the end of April.

Rice prices in Japan have been increasing even after extreme shortages at retailers last summer were resolved. According to the internal affairs ministry’s retail price statistics released last week, the price of Koshihikari, a prestigious rice brand, in Tokyo’s 23 special wards surged nearly 80% year on year to a record ¥4,363 per 5 kilograms in February.

The release of government-stockpiled rice is anticipated to curb prices.

This article has been republished from The Japan Times.