Japan To Resume Rice Import Tenders

According to Japanese farm ministry officials, Japan is preparing to resume regular tenders to buy foreign rice after a break of at least three months.

Since the start of the fiscal year on April 1, the ministry has held no new tenders for foreign rice, which it is required to import under an international trade agreement.

Tokyo is also progressing with plans to sell 600,000 MT of imported rice from storage to domestic animal feed producers and would need foreign rice to maintain its buffer stock.

Government sales of imported rice from storage to feed makers in the past two years have helped Japan reduce stocks by a third to 1.29 million MT as of the end of March.