Farm Minister Suggests Emergency Imports Could Cut Japan Rice Prices

TOKYO, June 6 (Bernama-Kyodo) -- Japan's farm minister Shinjiro Koizumi on Friday hinted at initiating emergency rice imports if the government fails to bring down prices, saying there should be no "sacred cows" in agricultural policy.

According to Kyodo News agency, Koizumi's remarks came as the government continues releasing rice reserves in a bid to lower prices, with it expected to leave stockpiles at 300,000 tonnes, down from the 1 million tonnes usually stored in preparation for disasters or crop failures.

"Emergency rice imports are one of the options" to ease concern over distribution shortages, said Koizumi, who took his post in mid-May.

He added, "We will achieve price stability by considering everything. There will be no sacred cows."

The phrase "no sacred cows" is a mantra that was often employed by his father, former Prime Minister Junichiro Koizumi, who pushed through administrative reforms and labour market deregulation in the early 2000s.

Currently, the government imports 770,000 tonnes of rice annually tariff-free, mainly from the United States, under its minimum access commitment based on World Trade Organisation rules. Of that, up to 100,000 tonnes is used for human consumption.

Since Koizumi became farm minister, the government has sold reserve rice under direct contracts with retailers in an attempt to contain soaring prices, bypassing auctions that were blamed for inflating prices.

On Thursday, Prime Minister Shigeru Ishiba's government held its first ministerial meeting on rice policy. The meeting comes as prices have doubled over the past year, with the government aiming to boost production, prevent supply shortages and support producers in response.

-- BERNAMA-KYODO