The agriculture minister said the high prices were taking a heavy toll amid record heat, surging demand and rice distribution problems.
Rice prices in Japan have increased sharply in recent months, due to problems in the supply chain - Photo: AFP
On February 14, the Japanese government announced that it would release one-fifth of its emergency rice reserves to control rising rice prices.
Japan will release 210,000 tons of rice, according to Agriculture Minister Taku Eto. Mr. Eto said the government does not normally intervene in the market, but the recent price increase "has had a significant impact on people's lives.
"I hope everyone will see this as our strong determination to improve the stagnant distribution situation at all costs," AFP news agency quoted Mr. Eto as saying.
Rice prices in Japan have risen 50 percent in the past few months and nearly doubled in just over a year. The retail price of a 5-kilogram bag of rice is now around 3,688 yen ($24), up from 2,023 yen last year.
Japan has previously opened its rice reserves to deal with natural disasters, but this is the first time the country has had to do so due to supply chain problems.
In August 2024, people bought out rice in supermarkets due to a series of storms and rumors of an impending major earthquake.
The government initially hoped prices would stabilize late last year as new harvests hit the market, but inflation has not abated as some distributors are hoarding for fear of running out.
Rice prices have begun to change the consumption habits of some people like Eriko Kato, a resident of the capital Tokyo.
"I still buy rice occasionally, but because it's so expensive now, sometimes I stop buying it when I see the price," said Ms. Kato, adding that she sometimes has to switch to eating noodles instead of rice.
Masayuki Ogawa, associate professor at Utsunomiya University, said a number of factors contributed to the current crisis.
Among them are the tourism boom and a rice shortage caused by a severe heat wave in 2023. The crisis was exacerbated by speculation by distributors who were said to be hoarding.
He said prices could stop rising if these distributors were forced to release their stockpiled rice.
Japan currently has nearly 1 million tons of rice reserves stored at about 300 facilities across the country. Each year, the country buys about 200,000 tons of rice to store and resell after 5 years, mainly as animal feed.
Source: https://tuoitre.vn/nhat-ban-xa-kho-200-000-tan-gao-de-ngan-gia-gao-tang-2025021417052703.htm
Comment (0)