Japan Rice Prices Fall Below ¥3,000 Amid Eased Supply-Demand Conditions
The price of rice in Japan has fallen below ¥3,000 for the first time in two years. According to data from about 1,000 supermarkets across the country, the average price of 5 kilograms of rice dropped to ¥2,971 in the week ending September 17. This is a decrease of 32 yen from the previous week and marks the fifth consecutive week of falling prices.
Rice prices had been rising since the summer of 2024 due to a supply shortage that led to what became known as the Reiwa-era rice crisis. However, with the government releasing rice from its stockpiles and increased production, supply-demand conditions have eased, leading to lower prices.
While falling prices are beneficial for households, they raise concerns among farmers who may struggle to cover their production costs. Agriculture Minister Kazuo Yana expressed his concern at his inaugural press conference on Friday, stating that 'the situation is becoming extremely difficult and simply unacceptable for farmers trying to stay in business.'