Japan Retail Rice Prices Hit Another Record High
Japan’s average rice price hit a record high of 4,285 yen per 5 kg in the week through May 18, according to the agriculture ministry. This marks a second consecutive weekly rise and nearly double last year’s prices. Despite increased sales of stockpiled rice, rising blended rice prices are keeping overall rice costs elevated.
Tokyo, May 26 (Jiji Press)–The average price of rice sold at about 1,000 supermarkets across Japan in the week through May 18 rose to 4,285 yen per 5 kilograms, the highest since records began in March 2022, the agriculture ministry said Monday.
The average price rose by 17 yen from the previous week, the second consecutive weekly increase.
Prices remain roughly double those of a year before, as the distribution of government-stockpiled rice has been slow and prices for brand rice, which has single production areas or varieties, have risen.
The Japanese government has sold about 310,000 tons of stockpiled rice at auctions in March and April. The proportion of blended rice, including stockpiled rice, accounted for 34 pct of all rice sold, up 3 percentage points, according to the ministry.
While the government expects overall rice prices to fall as the share of blended rice gradually increases, the latest rise in the average price reflected an increase in blended rice prices.
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Source : Nippon
