Japan to hold 3rd auction of stockpiled rice next week

To be auctioned are 100,000 metric tons of 2023 rice including such brand-name varieties as Aomori Prefecture's "Masshigura," Fukushima Prefecture's "Ten no Tsubu" and the same prefecture's "Hitomebore."

In the previous release of government-held rice totaling 70,336 metric tons through competitive bidding, the National Federation of Agricultural Cooperative Associations, or Zen-Noh, purchased 66,271 metric tons, or 94 percent.

There were three other successful bidders -- the Fukui Prefectural Agricultural Cooperative, rice wholesaler Kawacho Rice Co. and Zenshuren, the federation of staple food collection cooperatives in the country.

Bids accepted averaged 20,722 yen per 60 kilograms. The auctioned rice is expected to hit store shelves late this month.

As for some 140,000 metric tons of stockpiled rice put up for the initial round of auction, Zen-Noh also bought more than 90 percent.