29-05-2025
Online retailer Rakuten sells out of government-stockpiled rice on first day
Japanese internet retail giant Rakuten Group started selling government-stockpiled rice on Thursday, but it quickly sold out.
Rakuten says the rice is being sold inclusive of tax for 2,138 yen, or about 15 dollars, for a 5-kilogram bag.
The firm is allotting rice for sale by the day. The first batch sale started around noon, and quickly sold out.
Rakuten stopped accepting reservations shortly after 2 p.m., after they reached the daily limit.
The firm says some people had difficulty accessing its websites due to the high demand.
Rakuten had applied to buy 10,000 tons of stockpiled rice sold through no-bid contracts.
It had previously limited orders to one or two bags, depending on the site. The firm also said it might temporarily stop accepting orders or reservations if the limit was reached.
Rakuten says it will sell stockpiled rice on multiple sites as soon as it becomes available again.
Major flea market operator Mercari banned sales of government-stockpiled rice on its app from Thursday.
The operator said reselling could hinder the proper trading of rice, a daily necessity.
The firm said it will use AI and other technologies for monitoring. If stockpiled rice is offered for sale on the app, the listings will be removed and the sellers' accounts will be suspended.
But Mercari said it will allow retailers to sell rice bought from the government through no-bid contracts.
LY Corporation also banned the sale of stockpiled rice from Wednesday on its auction and flea market sites.
