Japan's new Agriculture Minister Shinjiro Koizumi said on Friday he aimed to get rice on store shelves for under 3,000 yen for a 5-kg bag

Report via Japanese media, Jiji.

  • plans to bypass auctions, selling stockpiled rice directly to retailers to curb inflation

I think the price at present is north of 4000 yen for a 5 kg bag, but don't quote me on that.

Japan ishiba koizumi rice 23 May 2025 2

PM Ishiba welcoming the new minister.

The previous minister, Taku Eto, said in a speech:

  • “I’ve never bought rice. My supporters have given me so much rice that I have so much I could sell it.”

That didn't do well with the Japanese public, sick of seeing prices jump higher. Eto resigned on 21 May.

Source: Forex Live