Minister of Agriculture, Forestry and Fisheries Eto has stated that, citing delays in rice distribution, the government intends to release its stockpiled rice as soon as possible. He also said that he will announce details such as the quantity to be sold at auction next week.

Minister Eto revealed this at a press conference following the Cabinet meeting on the 7th.

Minister Eto said, "The Prime Minister has instructed us to move forward quickly with the utilization of stockpiled rice, and we are accelerating preparations for implementation," making clear his intention to release the government's stockpiled rice as soon as possible.

He then stated that he will announce details such as the quantity to be sold at auction as early as next week, and will then invite participation from collection companies such as the Japan Agricultural Cooperatives (JA) to participate in a bidding process before selling the stockpiled rice.

However, the specific dates for the bidding and sale have not yet been decided.

Until now, the government's stockpiled rice was only released onto the market in the event of a severe crop failure or disaster, but last month the Ministry of Agriculture, Forestry and Fisheries revised its operations so that it can be released even if it is determined that rice distribution is delayed.

As rice prices continue to rise, this would be the first time that stockpiled rice is released to facilitate distribution, and attention is focused on whether it will lead to rice price stability.

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