Japan Releases Rice Reserves to Stabilize Soaring Prices

To combat soaring rice prices, Japan will release 210,000 tons of its national rice reserves. This unprecedented move, announced by Agriculture Minister Taku Eto, aims to stabilize the market and address the impact of rising costs on consumers. While Japan has previously released reserves after natural disasters, this is the first time supply chain issues have prompted such action. Rice prices have surged 50% in recent months, driven by high demand and disruptions. The government hopes this intervention will alleviate the situation and bring relief to consumers facing increased food costs. The release represents one-fifth of Japan's 1 million-ton reserve and signals a commitment to addressing the ongoing crisis.