Nineteen Firms Apply for 90,000 Tons of Reserve Rice Under Direct Contracts

TOKYO, May 27 (News On Japan) - Japan’s Minister of Agriculture, Forestry and Fisheries Koizumi announced that 19 companies have applied to purchase a total of 90,824 tons of government reserve rice under a discretionary contract framework. He added that distribution could begin as early as May 29th, with sales expected to start in stores during the first week of June.

Speaking at a press conference, Koizumi said, "The transfer of reserve rice may begin on the 29th. We are seeing a clear path for it to appear on store shelves in the first week of June."

As of 9 a.m. this morning, 19 companies had submitted applications for the rice, and some contracts may be finalized as soon as today. Among the applicants are Rakuten Group, the operator of Don Quijote, and supermarket chain OK.

In a notable development, FamilyMart has become the first major convenience store chain to decide to participate. The retailer plans to sell the rice in small one-kilogram packages priced at 400 yen. Processing and packaging will be handled by a group company under its parent firm, Itochu Corporation, with the goal of launching sales in early June.

Source: TBS

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