Tokyo – Japanese Prime Minister Shigeru Ishiba has ordered the rapid implementation of measures to relieve consumers of bloated food prices, including an unprecedented release of stored rice to reduce costs, a minister said on Tuesday.
At a press conference, Minister of Economy Ryosei Akazawa said that Mr. Ishiba had instructed the cabinet to quickly continue with countermeasures, because the prices of rice, vegetables and other livelihoods have livelihood Rose in recent months.
“Burgers suffer enormously and feel pain,” he said, and noticed that the raised rice price had been unexpected.
The average transaction price of rice produced last year rose by 55% to 23,715 yen ($ 153) per 60 kg (132 lb) compared to the previous year, according to government data.
Last week, the Ministry of Agriculture corresponded to a new policy that would enable the government to sell stored rice to farmers’ cooperatives on the condition that the buyers would sell the equivalent amount to the government within a year. It would be the first time that saved rice was released to lower the prices.
Details such as the selling price and timing still have to be decided, a ministerial officer said Tuesday.
Japanese consumer prices rose by 3.6% in December compared to the previous year, which marked the largest leap in almost two years, while the share of households in food reached a highlight of four decades last year. – Reuters