Japan ditches historical rice curbs with Ishiba's fate at stake

The nation's key inflation gauge reached 3.3% in June, led by surging food prices

- Bloomberg

In a break from a decades-old policy, the Japanese government will encourage farmers to disregard a de facto cap on rice production and boost cultivation of the food staple, a step that could win support from the agriculture sector and soothe consumers' frustration over soaring living costs.

"We will shift our policy to increase rice production, so that we will be capable of responding to changes in demand and supply flexibly and comprehensively," said Japanese Prime Minister Shigeru Ishiba in a ministerial-level meeting on Tuesday that focused on securing a stable supply of rice.

The move may give Ishiba another mission that justifies staying in power—ignoring calls to step down after the ruling coalition's poor showing in an upper house election last month. It could also spotlight agriculture minister Shinjiro Koizumi, who has been touted as a potential future prime minister as Ishiba's fate hangs in the balance.