Photo/Illutration Workers open bags of government reserve rice on March 18 at a rice mill factory in Saitama Prefecture. (Usen To)

The government has decided to regularly distribute additional portions of its emergency rice reserves until summer after a prior release did little to affect escalating prices.

A third auction offering 100,000 tons of the government’s stockpiled rice will take place in the fourth week of April, agriculture minister Taku Eto announced on April 9.

More biddings will be held at least once a month until the new harvest season begins.

“The goal of the measure is to stabilize rice prices by ensuring a steady supply,” Eto said. “We will take steps to ensure the rice reaches consumers as quickly as possible.”

He made the announcement after receiving instructions from Prime Minister Shigeru Ishiba earlier in the day.

The decision comes after the initial two auctions had minimal effect on lowering market prices.

Despite selling 210,000 tons of rice reserves to distributors in March, the average retail price of the national staple remained high at the end of the month, more than double that of the same period last year.

Eto said that he aims to resolve the supply shortages in the market through the regular release of government stocks. He indicated that further steps would be taken if necessary.

The agricultural minister also revealed plans to hold talks with distributors, wholesalers and retailers in the coming days to discuss ways to bring down the cost of rice.

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