The latest development reveals that Japan plans to release 210,000 tonnes of emergency rice reserves in response to an 82% price surge, the first such release not linked to natural disasters. Distribution will commence in mid-March, with retailers anticipated to have stock by early April.
The significance lies in the fact that household food budgets have reached a 43-year peak due to rice prices peaking at 3,688 yen per 5kg. This release is intended to combat suspected hoarding by wholesalers and farmers, aiming to resolve distribution issues despite improved harvests.