Japan Rice Price to Wholesalers Hits Record High for Aug.
Japan’s wholesale rice price surged 17% to a record ¥16,133 per 60 kg in August, driven by supply shortages from heat waves, increased demand from foreign visitors, and stockpiling due to typhoon and earthquake concerns. Retail prices in Tokyo for 2024-harvested rice are up 50% from last year, with further hikes expected.
Tokyo, Sept. 17 (Jiji Press)–The average price to wholesalers of rice harvested in Japan in 2023 jumped 17 pct from a year before to 16,133 yen per 60 kilograms in August, hitting a record high for the month, the agriculture ministry said Tuesday.
The result reflected a supply shortage caused by poor harvests due to last summer’s heat waves, as well as a rise in rice demand from foreign visitors to Japan.
In addition, consumers rushed to stock up on rice in August, in the face of a series of typhoons and the government’s warning of an increased risk of a megaquake in the Nankai Trough off the country’s Pacific coast.
The ministry’s rice price data, starting for September, will cover rice harvested in 2024, and is widely expected to show even higher prices, in light of moves to raise prices by agricultural cooperatives across the country.
In the Tokyo metropolitan area, rice harvested in 2024 is starting to hit retail shelves, with prices up about 50 pct from last year.
Source Link : https://www.nippon.com/en/news/yjj2024091700844/japan-rice-price-to-wholesalers-hits-record-high-for-aug.html
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