Japan agriculture minister pitches plan for cut-price rice
Koizumi Shinjiro visited Sapporo in the northern prefecture of Hokkaido to explain his proposal to rice producers, wholesalers and retailers.
Koizumi plans to release stock from public stockpiles with the aim of driving down the price of a five-kilo bag to 2,000 yen or 14 dollars, or less than half of the current price in supermarkets.
Koizumi said the government would start by releasing 300,000 tons through non-bid sales contracts. He said the amount to be released would not be capped so long as there is demand.
He also said there would be no conditions attached to buybacks, and that the government would shoulder transport costs.
A farmer who met the minister said "I think it's a great idea for supplying rice at reasonable prices, as current prices are way too high. But I think that price should not be the standard."
Koizumi later conceded that while prices should be kept high, current prices are clearly too high.
The agriculture ministry will hold a briefing on Monday on policies and methods for non-bid contracts for the release of stockpiles.
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