Japan Recommends Release Of Food Stockpiles

The Japanese Prime Minister Yasuo Fukuda has urged the world leaders of various countries to release excess stockpiles of food to ease shortages in poorer countries, offering over 300,000 MT of imported rice held by Japan.

Japan's decision to open up its rice warehouses comes as prices of the grain and other staples have jumped around the world, sparking violent protests in some countries.

In addition to the aid package, Japan is also considering a request by the Philippines to sell it some 200,000 MT of imported rice to ease rising global prices.