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Rice futures trading plans disapproved in Japan
The agriculture ministry told two Japanese commodity exchanges Wednesday it has disapproved their plans to list rice futures contracts for trading on an experimental basis, ministry officials said.

The Agriculture, Forestry and Fisheries Ministry said rice futures trading would allow all producers to sell rice and would run counter to the ministry's policy of requesting farmers to cut production.

Rice futures trading would thus gravely affect rice production and distribution, it said.

The Tokyo Grain Exchange and Kansai Commodities Exchange in December filed applications with the ministry for rice futures trading, but the ministry decided by late March to disapprove them.

When the ministry heard opinions from the exchanges last Friday, they noted that the government has no reason to disapprove the applications and that the rice futures market would allow Japan to prevent rice price fluctuations from leading to business crises.

Japan initiated rice futures trading in the 18th century and terminated it in 1939.
MGR Archive 13.4.2006
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Region Type Price  
Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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