Japan Rice Prices Down for 7th Straight Week at 3,935 Yen

Tokyo, April 3 (Jiji Press)–Prices of rice sold from March 23 through Sunday in Japan averaged 3,935 yen per 5 kilograms, down 43 yen from the previous week, marking a seventh straight weekly decline, the agriculture ministry said Friday. The average price is based on sales at about 1,000 supermarkets nationwide. The figure dipped below year-earlier levels, when prices climbed into the 4,000-yen range and government stockpiles began to be released. By category, the average price of branded rice dropped 83 yen to 4,005 yen per 5 kg, while that of blended rice rose 27 yen to 3,703 yen, marking its first increase in seven weeks. The share of branded rice in total sales climbed 4 percentage points to 77 pct. Private-sector rice inventories are projected at 2.21 million to 2.34 million tons as of end-June, exceeding the appropriate range of 1.8 million to 2.0 million tons. As supply-demand conditions ease, downward price pressure is emerging in interdealer rice transactions as well. END [Copyright The Jiji Press, Ltd.]