Japan Key Rice Price Hits Record High amid Thin Trade in May
Tokyo, June 17 (Jiji Press)--The average price to wholesalers of rice harvested in Japan in 2024 hit a new record high amid thin trading in May, an agriculture ministry report showed Tuesday.
The average price in transactions between wholesalers and rice buyers dealing with farmers, such as the National Federation of Agricultural Cooperative Associations, or Zen-Noh, came to 27,649 yen for 60 kilograms of brown rice, up 77 pct from that for 2023 rice a year earlier.
The ministry believes that the record price in May had little impact on retail prices as 2024 rice accounted for only about 3 pct of all transactions.
Trade volume for the newest rice shrank to a May record low of about 52,000 tons from 79,000 tons a year before.
Amid intensifying competition to buy rice from farmers, trade in 2024 rice peaked earlier than in usual years. Trade volume hit a record high for each month from September to December, but logged a record low from January to May.
(2025/06/17-17:41)
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