Japan Average Rice Price Logs 1st Rise in 10 Weeks
Japan’s average retail rice price rose to 3,625 yen per 5 kg in the week to July 27, marking the first increase in 10 weeks, the agriculture ministry reported. Sales of government-stockpiled rice declined as consumer demand eased. Minister Koizumi noted the price surge has now largely subsided.
Tokyo, Aug. 4 (Jiji Press)–The average price of rice sold at some 1,000 supermarkets across Japan in the week through July 27 came to 3,625 yen per 5 kilograms, up for the first time in 10 weeks, the agriculture ministry said Monday.
The average price rose by 40 yen from the previous week, apparently reflecting a drop in the sales volume of government-stockpiled rice released under no-bid contracts.
“The surge in rice prices has subsided considerably compared to its peak,” agriculture minister Shinjiro Koizumi told reporters.
The sales volume of stockpiled rice declined as demand from people wanting to try it weakened, he said.
In the reporting week, 12,276 tons of government-stockpiled rice were sold, down from the previous week’s amount of 13,108 tons.
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Source : Nippon.com
