Japan's government plans to drastically reduce rice prices to ¥2,000 per 5kg by selling 300,000 metric tons of stockpiled rice and covering transportation costs. This aims to address soaring prices caused by crop damage and increased demand, impacting Prime Minister Ishiba's approval rating ahead of July's election. Agriculture Minister Koizumi pledged swift action, aiming for retail availability in early June at half the current supermarket price. The government will also forgo repurchasing the released rice to avoid further price increases, learning from a less effective March auction.
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