Key Facts
• Polished rice prices remain high despite the release of stockpiled rice.
• Average rice price dropped for three consecutive weeks to ¥4,176 (5kg, tax included).
• Premium rice prices rose by ¥14 to ¥4,443 compared to the previous week.
• Stockpiled rice sales to begin next week, limited to 2023 harvest ‘aged rice.’
• Minister Koizumi announced a new investigation into polished rice processors’ capacity.
• The study will assess processors’ performance and capacity from 2022 to the present.
• Challenges include logistics issues and workforce reforms in the rice processing sector.
• Government aims to lower rice prices by increasing stockpiled rice circulation.
Summary
The Japanese Ministry of Agriculture, led by Minister Shinjiro Koizumi, is launching a new initiative to investigate the capacity and operations of polished rice processors. This move comes as rice prices show mixed trends: while the average price of rice has decreased for three consecutive weeks to ¥4,176 (5kg, tax included), premium rice prices have risen by ¥14 to ¥4,443. Stockpiled rice sales, limited to 2023 harvest ‘aged rice,’ will begin next week, aiming to stabilize the market. However, logistical and workforce challenges in the processing sector remain significant hurdles. The government hopes this approach will lead to a broader reduction in rice prices.
