Japan to buy back 210,000 tons of emergency rice to prevent price collapse

The Ministry of Agriculture, Forestry and Fisheries plans to place bids through negotiated contracts on Sept. 18, in what would be the government's first buyback of released stockpiled rice.

The ministry initially earmarked allocations in its fiscal 2026 budget to buy back 150,000 tons but raised the tonnage after private-sector rice inventories hit a record high. It is expected to finalize the decision based on this year's harvest forecast.

The government released 590,000 tons of stockpiled rice in 2025 to help bring down surging prices amid shortages.

Stockpiles now stand at 320,000 tons. Even with rice to be secured from the 2026 harvest, the total would reach only 740,000 tons, about half the appropriate level of 1 million tons.

Farm minister Norikazu Suzuki had sought a buyback announcement by late July, but Prime Minister Sanae Takaichi took a cautious stance, saying it would run counter to measures to curb inflation.

The average retail price of the crop at supermarkets across the country has fallen to around 3,000 yen ($19) per 5 kilograms, compared to about 4,000 yen at the height of the crisis.