Rice prices soar, Japan opens auction to 'support' the market

On March 10, the Japanese government opened its first rice auction in 2025, aiming to facilitate rice distribution in an effort to stabilize prices of this essential commodity.

The Japanese government has advised people not to rush to buy expensive rice and has affirmed that it will make efforts to stabilize rice prices nationwide. (Source: Japan News)

In the context of rice prices continuously increasing in recent months, the Japanese Ministry of Agriculture, Forestry and Fisheries has decided to sell 210,000 tons of rice in its reserves to the market and supplement it through two bidding rounds, to ensure even distribution in localities.

The first auction, which covers 150,000 tons of rice harvested in 2023 and 2024, was held on March 10 for the highest bidders, mainly brands such as Mashigura from Aomori Prefecture and Hitomebore from Miyagi Prefecture.

In case the auction ends at 10:00 on March 10 without achieving the desired result, the Ministry will continue to reopen the bidding session on March 11.

The Ministry of Agriculture, Forestry and Fisheries of Japan will also continue to open the next auction for the remaining 60,000 tons of rice, based on the market situation to release more rice reserves and in case the air distribution situation improves.

Previously, at a press conference on March 7, Japanese Minister of Agriculture, Forestry and Fisheries Eto Taku advised people not to rush to buy rice when prices are high.

"The government will make efforts to stabilize rice prices nationwide by releasing rice reserves," he affirmed.

At a supermarket in Hiroshima city, rice prices have doubled and each household is limited to buying one 5kg bag at a time.

Meanwhile, a rice shop owner in Tokyo said that his shop has increased the price by 300 Yen (about 2.03 USD) per kilogram compared to last fall.

In a long-term effort to control rising rice prices, the Japanese Ministry of Agriculture, Forestry and Fisheries has implemented many solutions to support farmers in increasing rice growing areas, with about 43/47 localities in 2025, totaling more than 1.3 million hectares, an increase of 39,000 hectares compared to 2024, equivalent to 3.1%.

Source: https://baoquocte.vn/gia-gao-tang-cao-nhat-ban-mo-phien-dau-thau-tiep-suc-thi-truong-307025.html