Japan’s new farm minister aims to cut 5kg rice prices below ¥3,000

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.

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.

This article was written by Eamonn Sheridan at www.forexlive.com.