Japan Decides 210,000-Ton Rice Buyback to Replenish Stockpiles

Tokyo, Sept. 2 (Jiji Press)--An advisory panel of Japan's agriculture ministry on Wednesday approved a plan for the government to buy back 210,000 tons of rice to replenish is stockpiles of the cereal grain.

The ministry presented the plan at the day's meeting of the food committee of its Council of Food, Agriculture and Rural Area Policies.

The government is set to buy back rice from the private sector after it released a total of 590,000 tons from the state reserves in and after March 2025 to ease the rice shortage at the time. The first buyback will cover rice harvested in 2025, with contracts with selected sellers slated to be concluded Sept. 18.

The planned buyback reflects the ministry's assessment that a supply shortage can be avoided after its 2026 rice production outlook was revised to 7.35 million to 7.54 million tons from the July estimate of 7.32 million tons.

Some members of the committee welcomed the buyback. Others criticized its timing, saying it is too late and is a repetition of the same mistake made when stockpiled rice was released last year.

[Copyright The Jiji Press, Ltd.]