Japan’s power prices climb to highest since 2023 on heat wave
The nationwide next-day power price rose 20% on Monday from the previous week to ￥25.18 ($0.16) a kilowatt-hour, the highest since January 2023.
Japanese convenience store chain Lawson intends to lower prices on its onigiri rice balls next month, anticipating a reduction in the cost of the main ingredient. From September 29, most of the handheld meals will see a ¥10 ($0.06) decrease, according to a spokesperson. Rice prices in Japan soared last year due to a scarcity, leading stores and restaurants to raise costs and prompting the government to release its reserves.
Nevertheless, prices have begun to stabilize as supply increases. According to the Ministry of Agriculture, Forestry and Fisheries, private-sector inventories of brown rice reached 2.43 million metric tons by the end of June, the highest midyear level since 2009. The average price of a 5-kilogram bag at supermarkets has dropped around 28% since January's peak.
"Given the market price decline, we anticipate the price of the rice we purchase will also decrease," stated the Lawson spokesperson, who was acquired privately by Mitsubishi Corp. and KDDI in 2024.
Written by urgent.news from Japan Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Lawson to cut rice ball prices in Japan as costs ease japantimes.co.jp
