Retail Rice Prices Up for 1st Time in 5 Weeks

Tokyo, Oct. 24 (Jiji Press)–The average price of rice sold at about 1,000 supermarkets across Japan in the week ended Sunday rose 109 yen from the previous week to 4,251 yen per 5 kilograms, the agriculture ministry said Friday. The increase was the first in five weeks, while the average price remained above 4,000 yen for the seventh week in a row. The average price of “brand rice,” including newly harvested rice, rose 61 yen to 4,501 yen, up for the seventh straight week and hitting the highest level since data began in February. The previous high was 4,469 yen, logged in the May 12-18 week. Higher retail prices reflect a surge in advanced payments from agricultural cooperatives to rice farmers, compared with last year. Of the rice sold in the week through Sunday, brand rice accounted for 72 pct, while the share of “blend rice,” including rice released from government stockpiles, was 28 pct. The average price of blend rice climbed 184 yen to 3,603 yen. The ministry also released the results of a separate survey of about 6,000 drugstores and other retailers, which showed that the average rice price rose 37 yen to 4,247 yen. A different survey of about 1,200 supermarkets showed that the average rice price increased 261 yen to 3,711 yen. This is the first time in six weeks that all three different surveys have shown price increases. END [Copyright The Jiji Press, Ltd.]