The Japanese government's stockpiled rice released through direct contracts with retailers began hitting store shelves Saturday, with consumers flocking to the cheaper products.
The major supermarket chain Ito-Yokado Co. and the home appliances retailer Iris Ohyama Inc. were among the pioneers in offering this rice, with both companies pricing a 5-kilogram bag at 2,160 yen ($15), inclusive of taxes, at certain outlets.
In Tokyo’s Ota Ward, an Ito-Yokado outlet saw all 500 bags of rice sell out within half an hour after opening at 10 a.m. Additional Ito-Yokado locations plan to begin selling this rice either on Sunday or sometime thereafter.
At a home center operated by an Iris Ohyama group company in Sendai, northeastern Japan, some 250 people lined up before 8 a.m. in the rain to get numbered tickets to purchase the rice.
"It's cheap, and that helps," Mitsuko Matsuura, 71, said, expressing her relief that she was able to purchase the rice. She also said its taste was "not so different" from newly harvested rice.
A 82-year-old man expressed his disappointment at being unable to complete a purchase. He stated, "Our family consists of five members, which makes things challenging. I hope to return to buy (the rice) sometime soon."
To help curb the rising cost of rice that has impacted many families, the Japanese government started offering its reserves for sale directly to retailers earlier this week via contractual agreements.
Subject to the direct contracts is 300,000 tons of rice from 2021 and 2022.
Ito-Yokado secured 5,000 tons and Iris Ohyama 10,000 tons of the 2022 harvest. Supermarket giant Aeon Co. and discount store chain Don Quijote will also start selling the stockpiles they procured from Sunday.
The Ministry of Agriculture, Forestry and Fisheries initially offered reserve rice through auctions. But it switched to selling it directly to retailers in the hope that doing so will be more effective in curbing rice prices.
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