Japan’s surging rice price draws in lower-cost imports
A sharp rise in rice prices in Japan has led to increased imports of cheaper foreign rice. Retailers like Aeon are now selling blends of U.S. and domestic rice to meet demand and stabilize supply. Despite import tariffs, imported rice—mainly from the U.S. and Vietnam—remains more affordable than local varieties and is appearing more frequently in supermarkets.
The jump in rice prices in Japan has led to an increase in less expensive imports of the staple food. Those products are now showing up on more supermarket shelves.
Major retailer Aeon will sell US rice blended with domestic varieties this week. The chain says the move is to meet demand and stabilize supply.
Figures from the agriculture ministry show the average retail price for domestic rice in the week through March 30th was more than double that of a year earlier.
Japan imposes tariffs on rice imports, but the government purchases certain amounts without the levy. Trading houses and other importers pay the tariff of 341 yen, or more than 2 dollars, per kilogram.
Despite the import cost, retailers are finding the grain from overseas can still be sold for less than the domestic variety.
An imported food wholesaler in Sagamihara, near Tokyo, has been selling government-imported rice from the US and Vietnam.
However, the company plans to start procuring privately imported Vietnamese rice this month.
As with Aeon, the firm says it is responding to customer demand amid the surge in prices for domestic rice.
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Source : NHK World
