Japan Average Rice Price Falls for 2nd Straight Week
Japan’s average retail rice prices fell for a second consecutive week, with supermarket prices dropping 35 yen to 4,211 yen per 5 kg. Prices remain above 4,000 yen for the fourth week. The decline is linked to extended sales of cheaper government stockpiled rice. Domestic production is expected to rise by 560,000 tons this year.
Tokyo, Oct. 3 (Jiji Press)–The average price of rice sold at about 1,000 supermarkets across Japan in the week ended Sunday fell 35 yen from the previous week to 4,211 yen per 5 kilograms, the agriculture ministry said Friday.
The average rice price dropped for the second straight week, though still above 4,000 yen for the fourth consecutive week.
The decline was apparently because the government extended the deadline for selling relatively cheap rice released from its stockpile beyond the end of August.
A separate survey of about 1,200 supermarkets showed that the average rice price dropped 51 yen to 3,539 yen. A survey of about 6,000 drugstores and other retail shops found that the average price was 57 yen lower at 3,995 yen.
The country’s rice production this year is expected to grow by 560,000 tons from the previous year, agriculture minister Shinjiro Koizumi told reporters, adding that industry executives predict more.
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Source : Nippon.com
