Japan Rice Price Falls below 4,000 Yen for 1st Time in 7 Months

Tokyo, March 23 (Jiji Press)–Prices of rice sold at about 1,000 supermarkets in Japan in the week to March 15 averaged 3,980 yen per 5 kilograms, down 33 yen from the prior week and falling below 4,000 yen for the first time since last August, the agriculture ministry said Monday. The average price dropped for the fifth consecutive week. After briefly declining below 4,000 yen last year thanks to the release of government-stockpiled rice, the average rice price began to rise again to top the threshold following the start of distribution of newly harvested rice. The rise was due to significant increases in advance payments from agricultural cooperatives to farmers. Meanwhile, the harvest of 2025 rice exceeded demand, resulting in the softening of the supply-demand condition. The average price of relatively cheap blended rice fell 54 yen to 3,701 yen. That of brand rice including 2025 produce went down 25 yen to 4,089 yen. Rice stocks in the private sector are forecast to significantly surpass a level deemed appropriate as of the end of June this year, leading rice traders to expect that prices will continue declining. In a different survey covering some 1,200 supermarkets, the average rice price in the same week increased 63 yen from the preceding week to 3,882 yen per 5 kilograms. The average price of rice sold at some 6,000 shops, including drugstores, climbed 34 yen to 3,991 yen. END [Copyright The Jiji Press, Ltd.]