Key Facts
• May 26: Online briefing on discretionary contracts for stockpiled rice held.
• 320 major retailers, including Don Quijote, Rakuten, and Aeon, participated.
• Government set price: 60 kg at $115.56; retail price: 5 kg at $21.60.
• 30,000 tons of stockpiled rice available for sale, provided as unpolished rice.
• Applications opened May 26 on a first-come, first-served basis.
• Average rice price in supermarkets: $42.85 for 5 kg, over double last year.
• New government team of 500 members launched to address rising rice prices.
• Target retail price: $20.00 for 5 kg by early June.
• Retailers face additional costs for polishing, packaging, and distribution.
Summary
Rice prices in Japan have reached record highs, with the average price for 5 kg now at $42.85, more than double last year’s price. To address this, the government initiated discretionary contracts for selling stockpiled rice, offering 30,000 tons at a set price of $115.56 per 60 kg. Major retailers, including Don Quijote and Aeon, attended a briefing on May 26, with applications opening the same day. The government aims to lower retail prices to $20.00 for 5 kg by early June, but retailers highlight additional costs for processing and distribution. A new 500-member task force has been established to tackle the issue.
