The government of Japan, the world’s largest grain importer, is planning to commit 13 % of its rice stockpiles to build reserves with Asian countries amid supply volatility of the food staple.
According to Shirara Shiokawa, director at the grain trade division of the Ministry of Agriculture, Forestry and Fisheries, the country is ready to release 250,000 MT for a system proposed to start as early as next year to meet possible supply shortages in East Asia.
The project, called the East Asia Emergency Rice Reserve, was considered at a 2002 meeting of farm ministers from Japan, China, South Korea and the 10 members of the Association of Southeast Asian Nations. A six-year trial started in 2004. Japan is the only donor of funds for the pilot, spending 400 million yen ($4.5 million) over the period.
By news desk on November 10,2009
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