Tokyo (AFP) – The Japanese government began a rare auction on Monday of its emergency rice stockpiles in a bid to help drive down the surging price of the national staple.

Rice shortages driven by factors from poor harvests caused by hot weather to panic-buying over a “megaquake” warning last summer have caused prices to nearly double over a year.

Exacerbating the problem, some businesses are also thought to be keeping their inventories and waiting for the most opportune time to sell.

Japan stores about a million tons of rice for emergencies.

The country has previously tapped into these reserves during disasters, but this is the first time since the stockpile was built in 1995 that supply chain problems are behind the move.

The agriculture ministry is expected to select successful bidders for 150,000 tons of rice by Wednesday – with the auctioned grain expected to hit store shelves by the end of March.

The ministry says it plans to release another 60,000 tons if necessary.

This is a highly irregular situation,” agriculture minister Taku Eto told parliament on Monday.

By sorting out the clogged parts of the distribution network, we hope to relieve the hardship experienced by consumers.”

Experts say several factors have contributed to the crisis.

Among them is a tourism boom and shortages caused by record heatwaves in recent years, as Japan, like other countries, experiences the effects of human-driven climate change.

In August last year, shelves in some stores emptied after the government warned of a possible “megaquake”, along with one of the fiercest typhoons in decades and the annual Obon holiday.

  • TacoButtPlug
    link
    fedilink
    English
    arrow-up
    1
    ·
    2 days ago

    Huh… I knew their economy was weak but had no idea about the agri side

    • tiredofsametab@fedia.io
      link
      fedilink
      arrow-up
      5
      ·
      2 days ago

      We had a really bad harvest year, among some other reasons, so yields were way down. An aging-out population doesn’t help. Rice farming, even when a lot is mechanized, is hard work. Most people don’t want to become farmers as their main job, and it’s not viable for most as a second job because the other jobs that would give enough time to do that are either in the big cities or super rare. I can only do it because I have a fully remote position with flex+core time. Even then, I don’t see myself ever getting into rice due to the difficulties of doing it by hand and the capital required for mechanization.

      • TacoButtPlug
        link
        fedilink
        English
        arrow-up
        2
        ·
        2 days ago

        Wow. OK yea that is a major issue. Thank you for the explanation.