The employee places the weed of Konbu SEA on rice on the Riceball production line in Factory Fuji Foods Co., In Funabashi, Chiba, Japan, on Friday, January 26, 2024, rice balls are one of the most important products of 7-Eleven Japan, with over 2 billion sold each year. Photographer: Noriko Hayashi/Bloomberg by Getty Images
Bloomberg Bloomberg Getty images
After months of rice prices, Japanese consumers can finally get relief.
Data from the Japanese Ministry of Agriculture It was revealed that the average price of a rice bag five kg dropped to 3920 yen (27.03 USD) in the week ending on June 15, which meant the first time Rice fell below the 4000-man mark from a week, which ended on March 2.
For the first time, rice prices were for the purpose set by Prime Minister Shiger IShiba.
In May, Isehiba promised to lower prices, apparently saying that he believes that “rice prices should be in the 3000-war range, because it will remain within 4000 yen cannot be appropriate.” IShiba reportedly also told the legislators of the opposition that he would accept Personal responsibility in this matter.
Rice was a hot object in Japan, with rising prices and deficiencies leading to empty shelves in supermarkets throughout the country.
Careless comments about rice even had The cost of the minister of his work. The former Minister of Farm in Japan Taku Eto gave up in May, after publicly outrage because of his comments on obtaining free rice from fans.
The increase (rice prices) was very drastic this year, maybe from March to April. Just a few months ago, maybe several hundred yen every day, every day, every day.
Rice prices in Japan increased rapidly in the second half of 2024 – at the back of poor collections in 2023 and Final demand from tourists – And he continued in the first half of this year.
Yoichi Ryu, a 26-year-old resident of Tokyo, said CNBC on Friday that rice prices were clear.
He said that the five -wing ice bag cost about 1,800 yen to 2000 yen two years ago, but prices increased over 4,500 to 5000 yen.
“The growth was very drastic this year, maybe from March to April. So a few months ago they grow every day, maybe several hundred yen every day,” he added.
Government data revealed that Rice prices increased more than twice in May, Skur -a reading by 101.7% and determining the greatest growth for over half a century.
Relieving the lack of, but unevenly
However, it seems that at the end of the tunnel there is some light for Japanese rice shortage. In addition to the issue of government rice reserves, retailers offer imported rice from abroad, such as US and South Korea.
Aeon supermarket He started selling rice from California on June 6Saying that the decision was made among the low domestic supply of rice in Japan.
In April, Japan brought rice from South Korea for the first time since 1999. Bloomberg said. It was also reported that the South Korean Food Export Firma Global signed a contract in May for the export of 200 tons of rice from South Korea to help alleviate the shortage of supply in Japan.
The contract represents the largest number of rice that ever exported by a private South Korean company for general consumer sales in Japan, Korea Times reported.
In response to queries from CNBC, the Japanese National Supermarket Association said that a shortage in Japan seems mild “thanks to the release of government rice stocks”.
But the recovery of deliveries was uneven, and the lack of rice remained in some places. Roy Larke, a professor of a Japanese company in Tokyo intelligence company japanconsulting.com, said CNBC that some supermarkets around Tokyo still have empty rice displays, but these are small shops.
He added that “some chains have no problem and that some regional stores have rice.”
Yoichi said: “I remember recently, I went to () a supermarket to buy rice to be completed, but I couldn't buy them because they just weren't there, but their prices were still present.”
Prices are high in connection with quality
Despite the return of rice, prices still remain high. The National Supermarket Association said that “there is no rice action at a reasonable price.” She added that many stores have unsold, expensive rice.
Larke emphasized that there may be other reasons, noting that “a month from the government releasing actions, the prices of branded rice have just started to immerse and, now it seems only slightly.”
When the Japanese government published its emergency supplies, he sold rice directly to retailers, striving to obtain these supplies to consumers at the level of 2000 yen per bag.
“The fact that wholesale rice prices lasted a month to start falling and still exceed the governmental goal (2000 yen at 5 kg) suggests that it could be more than a matter of supply and demand,” said Larke.
He added that many consumers are afraid that rice rice is old and is not so tasty.
Yoichi repeated the same sentiment, saying that the supply of government cereals are of inferior quality compared to the newly collected inventory of rice.
In Japan, newly collected rice is sold as “shinmai”, literally new rice, and is seen for a better taste. There is even a legal requirement That only rice packed until December 31 this year can be marked as “shinmai”.
After the harvest next year, the current cultivation will be known as “Komai” or old rice. Government reserves come from older crops and conditions such as “Copies or everything” (literally old old rice) are used to describe cultivation 2021.
Statements of Japanese Central Bank officials He pointed out that although they have an eye on rice prices, such rapid increases can decrease.
BU Governor Kazuo Ueda said at a press conference after the June meeting of the Central Bank that “when we look at the latest data, consumer inflation increases by about 3%. But this is mainly caused by the rising costs of importing and rice prices … Comments translated by Reuters.