Japan Average Rice Price Down for 9th Straight Week
Japan’s average rice price dropped for the ninth consecutive week to ¥3,585 per 5 kg, due to the release of government-stockpiled rice. Over 69,000 tons have been sold so far. Meanwhile, “brand rice” prices rose slightly. Agriculture Minister Shinjiro Koizumi said the government will continue monitoring rice prices closely.
Tokyo, July 28 (Jiji Press)–The average price of rice sold at some 1,000 supermarkets across Japan in the week through July 20 dropped by 4 yen from the previous week to 3,585 yen per 5 kilograms, the agriculture ministry said Monday.
The average was down for the ninth straight week, though at a slower pace, because of the release of government-stockpiled rice under no-bid contracts.
In the latest reporting week, 13,108 tons of such stockpiled rice was sold, bringing the cumulative sales volume to 69,777 tons.
In contrast, the average price of “brand rice,” which has a single origin or variety, rose by 3 yen to 4,264 yen.
“We’ll closely monitor overall rice prices,” agriculture minister Shinjiro Koizumi told reporters.
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Source : Nippon.com
