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The employee puts the koju marine weed on the Riceball production line at the Fuji Foods Co. processing plant, in Funabash, Chiba, Japan, Friday, January 26, 2024. Rice-one of the most important products of 7-one Japan, with more than 2 billion is sold each year. Photographer: Norik Hayash/Bloomberg via Getty Images
Bloomberg | Bloomberg | Gets the image
After months of increasing rice prices, Japanese consumers can finally get some relief.
Data of the Ministry of Agriculture of Japan It turned out that the average price of five kg of rice sac fell to $ 3920 ($ 27.03) in a week, which ended on June 15, which first fell below 4,000 others from the week ended on March 2.
It was also for the first time when the prices of rice hit the target set by the Prime Minister -Shiger Isibr.
In May, ISHIBA promised to lower the prices, saying that “prices for rice should be in the range of 3000 in, because the 4000 range may not be correct.” It is reported to be Iszib said he would take he would take Personal responsibility for this question.
In Japan, the rice was a hot button, and price rises and deficiency leads to blank shelves in supermarkets across the country.
Careless comments to the rice were even cost the minister his work. Former Japanese Farm Minister Taka Eti has left the post in May, after indignant at the public about his comments before receiving free rice from fans.
Increasing (rice prices) this year was very determined, perhaps from March to April. So only a couple of months ago they increase every day, perhaps a couple of hundreds, every day.
Rice prices in Japan rose sharply in the second half of 2024 – at the back of bad crops in 2023 and The negative demand of tourists – and accelerated further in the first half of this year.
A 26-year-old Tokyo Yojichi resident told CNBC on Friday that the rice’s thorn was bright.
He said that two years ago, the prices of five -syllable ice cost from 1800 yen to 2000, but prices doubled to 4,500 to 5000 yen.
“This year’s increase was very determined, perhaps from March to April. So only a couple of months ago they increase every day, perhaps a couple of hundreds, every day,” he added.
Government data showed that In May, rice prices rose more than half It is increased by 101.7% and marking the greatest increase in half a century.
Deficiency of relaxation but unevenly
However, it seems that at the end of the tunnel there is light for Japan’s rice deficit. In addition to the release of state reserves, retailers offer rice imported from the border, such as the US and South Korea.
Aeon supermarket Started selling rice in California on June 6Saying the decision was made against the background of low household rice stocks in Japan.
In April, Japan first imported rice from South Korea since 1999, said Bloomberg. It was reported that in May, the South Korean food exports O Global signed an export agreement of 200 tons of South Korean trait to help ease Japan’s supply deficits.
The contract is the largest volume of rice, which if -something exported by a private South Korean company for total consumer sales in Japan, The Korea Times reports.
In response to requests from the CNBC, the Japanese National Supermarkets Association stated that the deficit in Japan seems to be mitigated “thanks to the release of state rice reserves.”
But the recovery of supplies was uneven, in some places a shortage of rice. Roy Lark, Professor Japanese Business at Tokyo Intelligence Japanconsulting.com, told CNBC that some supermarkets around Tokyo still have empty displays, but these are small shops.
He added that “some networks seem to have no problems in some regional stores.”
Yojichi said, “I remember recently, I went to the supermarket to buy a rice for replenishment, but I couldn’t buy them because they just didn’t, but their price tags were still.”
Prices remain high on the background of quality problems
Despite the return of the rice, the prices are still high. The National Supermarkets Association stated that “there is no stock with a reasonable price.” Many stores seem to have a high -cost rice, he added.
Lark emphasized that there may be other reasons for this, noting that “the month from the government, the prices for branded rice have just begun to fall, and it seems now, only a little so far.”
When the Japanese government has released its emergency stocks, it sold rice directly by retailers, tends to get these stocks consumers on 2000 yen for a bag.
“The fact that wholesale, branded rice prices took a month to start declining and still higher than the government’s goal (with 2000 yen for 5 kg), it suggests that it could be more than just a issue of demand and demand,” Lark said.
Many consumers are concerned that the rice is old and not so delicious, he added.
Yoichi repeated the same sentiments, saying that the government grain stock is of more poor quality compared to the recently collected rice reserves.
In Japan, recently harvested rice is sold as “Shinmai”, literally new rice, and it tastes better. There are even legal requirements Only a rice that is packaged by December 31 of the same year can be marked as “Shinmai”.
After the next year’s harvest, the current harvest will be known as “Komai” or the old rice. State reserves come from old cultures, and conditions like “pushes either everything” (Literally, old rice) used to describe the 2021 harvest.
Statements by the Japanese Central Bank officials It is stated that when they watched the rice prices, such a sharp increase is likely to facilitate going forward.
Governor Boj Kazuo Weda said at a press conference after June Central Bank that “, when we consider the latest data, consumer inflation is moving about 3%. But this is mainly related to the cost of imports and rice prices … We expect such pressure to dissipate” Comments translated by Reuters.
