Japan starts revised rice stocks sales to cut prices by early June

Japan began selling government rice stockpiles through direct contracts on Monday after the newly appointed farm minister pledged to curb soaring prices of the nation's staple by selling the stockpiles at less than half the average price.Targeting a level of around 2,000 yen ($14) per 5 kilograms by early June, rice produced in 2021 and 2022 is slated for release through contracts with major retailers, such as supermarkets.The move comes as the government tries to counter criticism that it has failed to prevent rice prices from soaring amid inflation outpacing wage growth and straining hous…READ FULL ARTICLE