Japan’s Rice Crisis: Boom in Private-Sector Imports Amid Soaring Prices
Japan’s private-sector rice imports surged to 10,600 metric tons in May amid severe shortages and doubled prices caused by extreme weather and rising tourism. To ease consumer burden, the government released stockpiled rice and held an early tender for tariff-free imports under WTO rules. Traditionally protectionist, Japan allows 100,000 tons tariff-free annually, while imposing steep levies otherwise.
Japan is witnessing a significant increase in private-sector rice imports as the nation copes with a critical supply shortage, presenting challenges for both consumers and policymakers. In May, private imports soared to 10,600 metric tons, a stark rise from the 3,004 tons for the entire previous financial year.
This spike in imports, though still minor compared to the 7 million tons consumed annually, comes amid doubled rice prices following a harsh heatwave, an earthquake, and increased tourism demands. In response, the Japanese government released stockpiled rice at reduced prices, offering consumers a respite from high costs.
Traditionally, Japan adopts a protectionist stance on staple foods, imposing a levy of 341 yen per kilogram on private imports. However, under WTO rules, the government can import 100,000 tons tariff-free. In a bid to alleviate price pressures, an early tender for tariff-free rice was held in advance of the usual September auction.
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Source : Devdiscourse
