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Japan Begins to Take Bids in 3rd Auction of Stockpiled Rice

Japan Begins to Take Bids in 3rd Auction of Stockpiled Rice

   Tokyo, April 23 (Jiji Press)--Japan's agriculture ministry on Wednesday began to accept bids in the third round of its auction for government-stockpiled rice.
   In the third round of the auction, which runs through Friday, the ministry will sell an additional 100,000 tons of 2023 rice as part of efforts to curb soaring rice prices.
   The reserved rice put up for the auction this time includes such brand-name varieties as "Masshigura" from Aomori Prefecture and "Ten no Tsubu" from Fukushima Prefecture.
   In March, the Japanese government held two rounds of the auction to release a total of 210,000 tons of its stockpiled rice. But retail rice prices have yet to start declining.
   According to the ministry, the average price of rice sold at supermarkets across Japan in the week through April 13 rose for the 15th straight week, hitting a new record high of 4,217 yen per 5 kilograms.

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AFP-JIJI PRESS NEWS JOURNAL


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