Japan rice prices remain high despite government plans to release reserves

Rice prices in Japan have remained high despite hopes that they would normalize after the government announced plans two weeks ago that it would release its stockpiles to curb the surge.On Feb. 14, the government said it would release up to 210,000 tons of its stockpiled rice, to be handed over to wholesalers in mid-March after it has been bid for and expected to hit store shelves between late March and early April.The farm ministry expected the announcement alone would lead to lower prices before the release of the stockpiled rice. But there has been no such effect, an executive at a major…READ FULL ARTICLE