MAFF Needs to Reduce Stocks of Imported Rice: 

The Board of Audit, Japan’s equivalent of the GAO, reports that the inflating inventory of imported rice has become a financial burden -- 2 mmt costing roughly $144 million annually -- and urges the Ministry of Agriculture, Forestry and Fisheries (MAFF) to take action to reduce it. In response, in July MAFF started to release old import stocks to the feed sector, given its mandate to keep imported rice out of the food/table market. MAFF expects to release about 25,000 mt per month through June 2007. U.S. rice makes up 63.5% of MAFF's stocks. (For the full report please see GAIN JA6060.)