Japanese Rice Prices Hit Record Highs for 17th Consecutive Week
(MENAFN) Data from the agriculture ministry reveals that the price of a 5-kilogram bag of rice in Japan has reached a new record of 4,233 yen (approximately 30 U.S. dollars) in the week ending April 27. This marks the 17th consecutive week of price increases, with current levels more than double what they were a year ago.
Between April 21 and 27, the average price for 5 kg of rice in about 1,000 supermarkets nationwide increased by 13 yen (approximately 0.090 U.S. dollars) compared to the previous week. This figure represents the highest price recorded since the ministry began collecting this data in March 2022.
In an effort to stabilize the rice supply, the Japanese government has been gradually releasing 212,132 tons of its rice reserves following two auction rounds in March. However, local news outlets indicate that despite the release of thousands of tons of government-held rice through these auctions, only a limited amount has made its way to supermarket shelves, contributing to the sustained high retail prices of this staple food.
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