Japan - February 08, 2025 Storyline: The Japanese government is considering an early release of its rice reserves to address continuous price surges, farm minister Taku Eto said on Friday. A survey conducted by Teikoku Databank covering 195 major food manufacturers in Japan recently revealed that 1,656 food items will see price increases in February, following a similar trend in January. The research company warns that with rice prices continuing to soar, related food products are also expected to see price hikes, and significant price increases will likely continue at least until summer. A traditional rice shop located in Tokyo's Shibuya district has been in business for over a century and offers 14 different varieties of rice sourced from Niigata, Miyagi, Nagano, and other regions. The shop owner noted that wholesale prices have risen sharply, leading to an overall increase in retail prices across all brands. For instance, a variety from Chiba Prefecture is now selling for 760 yen (about 5 U.S. dollars) per kilogram, double the price compared with the same period last year. On Friday, Taku Eto, head of the Ministry of Agriculture, Forestry and Fisheries, said the Japanese government plans to expedite the release of its stockpiled rice to curb soaring prices, with details on the quantity and pricing to be released as early as next week. If the measure is implemented, it would mark the first ever release of reserves of the Japanese staple for the purpose of alleviating distribution shortages, with the move possibly leading to lower prices. Last summer, Japan experienced widespread rice shortages, driving up prices. Some local governments and consumers urged the central government to release its rice reserves. However, the Ministry of Agriculture, Forestry, and Fisheries remained cautious, saying that prices would gradually stabilize as the new rice harvest entered the market. Despite a year-on-year increase of approximately 180,000 tons in last year's new rice production, prices have continued to rise, sparking public discontent. According to Japanese media, the ministry suspects possible hoarding within the distribution channels and has since adjusted its stance, now planning to release rice from government reserves. Shotlist: Tokyo, Japan - Jan 21, 2025: 1. Various of market, consumers; 2. Bags of rice; 3. Scale, food cabinet for storing rice; 4. Sign reading "rice"; 5. Shop assistant weighing rice; Tokyo, Japan - Feb 8, 2025: 6. Various of bags of rice, price tags; Tokyo, Japan - Recent: 7. Traffic; 8. Various of building, signs of Japanese Ministry of Agriculture, Forestry and Fisheries; FILE: Shizuoka City, Shizuoka Prefecture, Japan - Aug 12, 2024: 9. Various of consumer, clerk, rice for sale at supermarket; FILE: Japan - Aug 2024: 10. Various of rice field. [Restrictions : No access Chinese mainland]