Japan’s Rice Prices Plunge for Ninth Straight Week
(MENAFN) Retail rice prices in Japan continued their steady decline for the ninth straight week, averaging 3,585 yen (approximately 24.16 U.S. dollars) per 5 kilograms in the week ending July 20, according to the Ministry of Agriculture, Forestry and Fisheries (MAFF).
Despite the continued slide, the weekly price drop was minimal—just 4 yen—highlighting a tapering in the downward trend.
MAFF pointed to a deceleration in the pace of reserve rice sales as a key reason for the price leveling, noting that the reduced volume of government stock being released has helped ease downward pressure on market prices.
In the week through July 20, 13,108 tonnes of reserve rice were sold. Since mid-June, weekly sales have remained relatively consistent, indicating a more stable supply-demand balance, according to the ministry.
MAFF gathers retail pricing data each week from roughly 1,000 supermarkets across the country.
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