Japan starts third rice reserve auction to stabilise prices
On Wednesday, Japan’s ministry of agriculture, forestry, and fisheries began the third auction of government-held rice to stabilise surging prices.
The average price of rice in supermarkets across Japan reached ¥4,217 (about $30) per five kilogrammes in the week up to April 13, official data showed.
The latest average price marked a three-yen increase from the previous week and the 15th consecutive week of price rises.
As prices showed no signs of easing, the Japanese government has pledged to release additional stockpiled rice every month until July.
The auction included 100,000 tonnes of rice harvested in 2022.
Qualified wholesalers had earlier submitted bids by email, with rice awarded to the highest bidders.
Unsold rice will be re-auctioned on April 24 under the same system.
(Xinhua/NAN)
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