Japan Rice Price Falls below 3,000 Yen for 1st Time in 2 Yrs
Tokyo, Sept. 18 (Jiji Press)--Prices of rice sold at about 1,000 supermarkets in Japan in the week to Sunday averaged 2,971 yen per 5 kilograms, down 32 yen from a week before and below 3,000 yen for the first time since early September 2024, the agriculture ministry said Friday. The figure dropped for the fifth consecutive week. Rice prices had been rising since the summer of 2024, when...
Japan's rice prices fell below 3,000 yen for the first time in two years, according to the agriculture ministry's report. The average price of rice sold at about 1,000 supermarkets in the week ending Sunday was 2,971 yen per 5 kilograms, a drop of 32 yen from the previous week and the lowest level since early September 2024. This decline marks the fifth consecutive week of falling prices.
The rice price surge began in summer 2024, triggered by a supply shortage, reaching a peak of 4,416 yen per 5 kilograms in January this year. However, supply-demand conditions have recently improved due to the government releasing rice from its stockpiles and increased production. Falling rice prices are a relief for households, but they raise concerns among farmers who may struggle to cover production costs as prices continue to fall.
Agriculture Minister Kazuo Yana expressed worry during his inaugural press conference, stating, "The situation is becoming extremely difficult and simply unacceptable for farmers trying to stay in business."
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