Japan - March 03, 2025 Despite the Japanese government's efforts to stabilize rice prices, an expert has expressed doubts about the long-term impact of the upcoming auction of reserve rice, raising concerns about further price volatility and its potential to strain household budgets. Japan's Ministry of Agriculture, Forestry, and Fisheries announced on Monday that it will hold an auction for government reserve rice from March 10, targeting major rice wholesalers. The initial auction will cover 150,000 tons of rice, the first such move to stabilize market distribution. After distribution to wholesalers, the rice is expected to reach store shelves as early as late March. Japan's government plans to release a total of 210,000 tons of its rice reserves into the market, in efforts to alleviate financial strain on households that have been struggling to cope with soaring rice prices. Naito Osamu, head of the Information Division at the corporate research firm Teikoku Databank, believes that the release of reserve rice is merely a temporary measure, and that further policy discussions are needed to stabilize prices in the long term. "The current situation is that rice prices in the market have continued to rise after the announcement of the reserve rice release. Therefore, we still need to see whether rice prices will stabilize as they once did when the reserve rice actually enters the market," he said. Naito noted that the high prices of rice are not an isolated issue, as other essential food items in Japan, including vegetables, are also experiencing significant price increases. The latest data released by the Ministry of Agriculture, Forestry and Fisheries at the end of February indicated that the national average prices for napa cabbage and round cabbage are more than double those of the same period last year. High prices have added pressure to the daily lives of Japanese citizens and altered some people's spending patterns. "Since it is difficult to reduce spending on key commodities like food, people can only cut back on other expenses and use the saved money for essential items like food," said Naito Osamu. Naito said that prices in Japan are unlikely to decrease in the short term, and future prices will depend in part on global economic conditions and the exchange rate of the Japanese yen. "Various external factors, such as the inauguration of the Trump administration in the U.S., have made the outlook more uncertain. Many consumers feel uneasy about the future and have become more reluctant to spend," he said. Shotlist: Tokyo, Japan - March 3, 2025: FILE: Shizuoka City, Shizuoka Prefecture, Japan - Aug 12, 2024 1. Various of consumer, staff member, rice for sale at supermarket; FILE: Tokyo, Japan - Jan 21, 2025 2. Scale, food cabinet for storing rice; 3. Sign reading "rice"; 4. Shop assistant weighing rice; FILE: Tokyo, Japan - Date Unknown 5. Rice in store; 6. Customer paying at counter; Tokyo, Japan - March 3, 2025 7. SOUNDBITE (Japanese) Naito Osamu, head, Information Division, Teikoku Databank (starting with shots 5-6/ending with shot 8): "The current situation is that rice prices in the market have continued to rise after the announcement of the reserve rice release. Therefore, we still need to see whether rice prices will stabilize as they once did when the reserve rice actually enters the market."; FILE: Tokyo, Japan - Jan 21, 2025 8. Bags of rice; FILE: Tokyo, Japan - Date Unknown 9. Various of customer grocery shopping, vegetable for sale; Tokyo, Japan - March 3, 2025 10. SOUNDBITE (Japanese) Naito Osamu, head, Information Division, Teikoku Databank (starting with shot 9): "Since it is difficult to reduce spending on key commodities like food, people can only cut back on other expenses and use the saved money for essential items like food."; FILE: Tokyo, Japan - Date Unknown 11. Various of customer grocery shopping; Tokyo, Japan - March 3, 2025 12. SOUNDBITE (Japanese) Naito Osamu, head, Information Division, Teikoku Databank (starting with shot 11/ending with shots 13-): "Various external factors, such as the inauguration of the Trump administration in the U.S., have made the outlook more uncertain. Many consumers feel uneasy about the future and have become more reluctant to spend."; FILE: Tokyo, Japan - Date Unknown 13. Various of customer grocery shopping, products on display. [Restriction - No access Chinese mainland]