Japan Revises Up Forecast for Private Rice Stocks

Tokyo, March 23 (Jiji Press)–Japan’s agriculture ministry on Monday revised up its forecast for private rice stocks at the end of June to 2.34 million tons on a brown rice basis, up by 50,000 tons from the estimate as of the end of last October. Private rice stocks are expected to hit a record high, exceeding the appropriate range of 1.8 million to 2.0 million tons, which could put downward pressure on rice prices. The ministry presented the new estimate at a related panel meeting on the day. The ministry usually does not release a rice stock projection in March, but this time, it found it necessary to provide more accurate information. According to the ministry, rice harvested in 2025 is estimated to total 7.47 million tons, down by 10,000 tons from the previous forecast, while rice demand is projected at up to 7.04 million tons, down by 70,000 tons. Since the amount of rice polished by January was 5 pct lower than the average in the past three years, the ministry lowered its estimate for per capita rice consumption. END [Copyright The Jiji Press, Ltd.]