Source: New York Times
“The results of a rare, closely watched auction in Japan that ended this week are about to be released. But there were no paintings or antique cars on the auction block. The government is selling 165,000 tons of rice — equivalent to roughly two billion bowls — from its emergency stockpile to make up for over 200,000 tons that some Japanese news media say have ‘disappeared.’ But there’s more to the story. Japan doesn’t have enough rice, a pillar of its diet. A shortage forced supermarkets to implement buying limits, and soaring prices have driven restaurants to hike prices of everyday food. Things have gotten so dire that, for the first time, the government is tapping its emergency stockpile in an effort to drive down prices.” (03/13/25)