Japan Sells 70,336 Tons of Stockpiled Rice in 2nd Auction
Tokyo, April 1 (Jiji Press)--The Japanese agriculture ministry said Tuesday that it has sold 70,336 tons of stockpiled rice in its second auction conducted from Wednesday through Friday.
Four bidders bought the rice at a weighted average price of 20,722 yen per 60 kilograms.
"We expect to see rice prices settle and distribution bottlenecks resolved," agriculture minister Taku Eto said in a press conference.
He added, "We would not hesitate to hold a third auction if necessary."
In the first and second auctions combined, 212,132 tons of stockpiled rice was sold to eight buyers at an average price of 21,053 yen per 60 kilograms.
(2025/04/01-11:17)
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