New Japanese agriculture minister Shinjiro Koizumi on Wednesday pledged to make the utmost efforts to stabilize rice prices.

The government has decided to import 2 million tonnes of rice in 2023 to replenish diminishing government rice reserves (CBP) needed to stabilize prices at the consumer level, with 500,000 tonnes to be delivered “as soon as possible”. The move has sparked a backlash from smallholders in producing regions, fearing the import would bring down farmgate prices and hurt local farmers.