Masaki Takamoto MAFF Announces New Rice Policies Japan's rice market is currently experiencing a glut, largely owing to consecutive bumper harvests and a decline in the price of voluntarily marketed rice. MAFF announced New Rice Policies in November 1997.
Key changes are as follows.
Accordingly, new measures to promote production adjustment were also introduced, including the creation of a Rice Supply-Demand Stabilization Program. Unlike past programs, this one is funded jointly by farmers and the government. This program is funded jointly by rice farmers and the government. Compensation is limited to voluntarily marketed rice produced by farmers who met their production adjustment area targets. A limit was set on the volume of rice purchased by the government to ensure appropriate rice stocks.