Japan May Start Buying Back Rice for Stockpiles in Sept.

Tokyo, Aug. 26 (Jiji Press)--Japan's agriculture ministry is expected to begin purchasing rice to replenish government stockpiles as early as September, sources familiar with the matter said Wednesday.

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 buyback plan will be discussed at a council meeting on Sept. 2.

Since last year, the ministry has released 590,000 tons of stockpiled rice for human consumption in response to tight supply and soaring prices.

The ministry will make a comprehensive decision on the timing of the buyback after assessing supply and demand conditions and sales trends. Rice prices are declining as supply conditions improve. Industry groups are calling for an early buyback.

Government rice stockpiles have fallen to 320,000 tons, below the appropriate level of 1 million tons, due to the releases.

[Copyright The Jiji Press, Ltd.]