In an unprecedented move, Japan will release up to 210,000 tonnes of rice from its emergency stockpile to tackle a sharp rise in prices, exacerbated by record summer heat, panic buying, and distribution disruptions.
Agriculture Minister Taku Eto announced the decision on Friday, noting that the surge in rice prices—more than 50% in recent months—had significantly impacted consumers’ lives. “The price hike has been too sharp, which is why we have made this decision,” Eto said.
The average retail price of a 5kg (11lb) bag of rice has climbed to ¥3,688 ($24), up from ¥2,023 last year, according to a government survey.
This marks the first time Japan has intervened over distribution issues rather than natural disasters or crop failures. The government’s rice reserves were already depleted following record-breaking temperatures in 2023, which affected the rice crop. Additionally, rising consumption driven by a record number of tourists and panic buying amid typhoon and earthquake warnings further strained supply.
The price of rice continued to rise after the summer’s initial spike, with the shortage further fueled by speculation that wholesalers and farmers were hoarding rice in anticipation of further price hikes.
The government hopes to stabilize prices with the release of stockpiled rice, which will be sold to agricultural cooperatives and wholesalers by mid-March, with the grain expected to reach retailers by early April.
To prevent market collapse, the government must buy back an equivalent amount of rice from distributors within a year.
While Japan’s rice storage locations are kept confidential for security reasons, a warehouse in Saitama prefecture near Tokyo was opened to the media on Friday. The warehouse holds 20,000 tonnes of rice—enough to fill 300m bowls—and is part of Japan’s extensive network of rice storage facilities, which house nearly 1 million tonnes of reserve rice across the country.
Since its introduction in 1995 after a major crop failure in 1993, Japan’s rice stockpiling strategy has been crucial to ensuring food security during times of crisis.
