Rice imports to Japan surge in May
Japan imported 10,605 tons of tariffed rice in May—3.5 times the total for all of fiscal 2024—driven by surging domestic prices and supply shortages. The U.S. led shipments. Despite high tariffs, demand rose sharply. Experts warn imports could climb again if new rice prices remain around ¥4,000 per 5 kg
Private sector imports of tariffed rice to Japan in May were 3.5 times the total volume brought in during all of fiscal 2024, revised government trade data showed Friday, as soaring prices of domestic rice have spurred demand for cheaper alternatives.
According to the Finance Ministry’s trade statistics, revised from a preliminary report issued earlier this month, 10,605 tons of tariffed rice were imported in May, a sharp increase from 115 tons in the same period last year. The United States, which accounted for 7,894 tons, was the largest source, followed by Taiwan, Thailand, and Vietnam.
Prices of domestic rice have continued to surge due in part to a supply shortage, with an auction system initially employed by the government to release its stockpiles blamed for further inflating prices.
Yasufumi Miwa, an expert on agriculture at the Japan Research Institute, noted that private imports may soon decline as the government has been selling stockpiled rice via direct contracts with retailers since late May, helping to ease prices.
But Miwa warned that they may rise again if the price of newly harvested rice stays in the range of 4,000 yen per 5 kilograms.
Japan currently imports 770,000 tons of rice annually tariff-free under its minimum access commitment based on World Trade Organization rules. Of that, up to 100,000 tons is used for human consumption.
As the recent surge in rice imports falls outside this quota, they are subject to a tariff of 341 yen per kg.
To Read more about Rice News continue reading Agriinsite.com
Source : Japan Today
