Japan to sell stockpiled rice directly to retailers to lower prices amid high demand.

Japan's government plans to sell 300,000 metric tons of stockpiled rice directly to major retailers to lower the price to about 2,000 yen per 5 kg, aiming to have it on shelves by early June. This move addresses soaring rice prices due to poor harvests from extreme heat and increased tourism demand. The initiative bypasses the auction system previously used and is intended to help curb rising costs affecting household budgets ahead of an upper house election in July.