Rice Shortage in Japan Prompts Agricultural Ministry to Hold a Meeting with Farmers, Cooperatives, and Businesses
Japan’s agriculture ministry held a meeting with farmers, agricultural cooperatives, wholesalers, and food makers to exchange opinions about the rice shortage in stores. Participants shared information about their current inventories and sales outlooks with the aim of ensuring the smooth distribution of rice.
According to the ministry, the overall supply-demand balance for rice is “not tight.” One of the farmers mentioned that there is no choice but to raise prices due to increasing costs and that “prices are getting closer to fair levels.”
A wholesaler stated that if rice prices remain elevated, consumption would decline. As of the end of Jun, private-sector rice inventories in Japan were at 1.56 million metric tons. This is the lowest since comparable data became available in 1999.
In some areas and stores, buying rice was difficult this past August. People rushed to stockpile rice after a warning was issued against a possible huge earthquake in the Nankai Trough off Japan’s Pacific coast.