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High production costs, shortages drive up rice prices in Japan

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      China

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      High production costs, shortages drive up rice prices in Japan

      2024-11-11 02:57 Last Updated At:05:17

      The average price of newly harvested rice in Japan surged by 48 percent in September compared to a year earlier, driven by higher production costs and stronger market demand following a shortage, according to local media.

      Until recently, rice had remained reasonably priced, even as food and commodity prices continued to rise.

      However, the price of rice, Japan's staple food, has surged significantly, impacting both households and food businesses, with growing concerns that these elevated prices could persist.

      Yoshiki Nakao, the owner of an Onigiri store in central Tokyo, expressed concern that the price of rice—a crucial ingredient in Onigiri, Japan's popular rice balls—will remain high.

      "There is a sense of crisis. The price of rice has risen by nearly 1,000 yen (about 6.55 U.S. dollars) per five kilograms compared to last year. So, we are doing our best to adjust prices," he said.

      In its latest consumer price index report, Japan's Ministry of Internal Affairs and Communications revealed that rice prices climbed by 44.7 percent year-on-year in September, marking the largest increase since September 1975.

      The rise has been attributed to shortages caused by extreme summer heat and by wholesalers hoarding rice in anticipation of a potential earthquake in August.

      The country's Agriculture ministry forecasts that private-sector rice inventories will rise to 1.62 million tons by June 2025, up from the all-time low of 1.53 million tons a year earlier.

      Despite expectations for an eventual rebound in supply, experts believe that rice prices will remain elevated.

      "Since the outbreak of the COVID-19 pandemic, Japan's overall price levels rose, but rice prices remained stable. At that time, it was hard for rice prices to increase, but with recent shortages, prices have skyrocketed. Even if supply improves, prices are unlikely to fall back to last year's levels," said Masayuki Ogawa, an assistant professor in the Department of Agricultural Economics at Utsunomiya University's School of Agriculture.

      Some experts argue that rice prices have been too low for a long time and are now merely adjusting to align with the price increases seen in other commodities.

      "In Japan, rice farming is primarily family-run. Because these family businesses lack the resources of larger corporations, they often accept lower prices during negotiations. As a result, rice prices have struggled to rise, even as prices for other goods have soared. The current shortage, though unfortunate, has provided an opportunity for prices to increase," the professor explained.

      Experts suggest that rice prices are likely to stabilize at current levels, though the unpredictability of recent climate events makes future projections uncertain.

      High production costs, shortages drive up rice prices in Japan

      High production costs, shortages drive up rice prices in Japan

      Next Article

      Israeli strike kills over 30 in eastern Gaza neighborhood

      2025-04-10 19:59 Last Updated At:20:07

      A major Israeli air strike on the Shejaiya neighborhood in the east of Gaza City Wednesday has left at least 30 people dead, with dozens injured or missing under the rubble.

      Shejaiya is one of the most densely populated neighborhoods of Gaza City. In one alley about eight homes have been reportedly hit and massively destroyed.

      Resident Hussam Abu Sakran was trapped under rubbles after the attack. While he was later rescued, his mother did not survive the bombing.

      "My mother was beside me. After the strike, I saw her torn apart. She was gone, just like that. How can I live without her? I don't know what to do. I don't know how I'll go on," he said.

      The local rescue efforts were challenged by limited resources as they sifted through rubbles.

      "Our crew are using the simplest tools, just hammers and bare hands to reach those trapped. We have no proper equipment. The number of the dead and injured is overwhelming, but we're doing everything we can to get them out and to the hospitals," said Ibrahim Abu Al-Rish, a Civil Defense staff member.

      The Shejaiya neighborhood borders Israel, and the Israeli forces have enhanced presence in the area over the past several weeks.

      Israeli strike kills over 30 in eastern Gaza neighborhood

      Israeli strike kills over 30 in eastern Gaza neighborhood

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