Soaring Rice Prices Show No Sign of Dropping in Japan

The average price for a five-kilogram bag of rice at supermarkets across Japan was at a record high of ¥4,206 as of the last week of March, up ¥10 from the previous week. This marks the thirteenth consecutive week that prices for the staple have risen. The figure is calculated by the Ministry of Agriculture, Forestry, and Fisheries based on information for 1,000 supermarkets nationwide from data provider KSP-SP. While the rate of increase has slowed, prices are more than twice as high as the same time last year.

The government has released stockpiled rice in a bid to halt the increase, holding scheduled auctions for 210,000 tons of the grain, as of March 28. Rice from the first round of auctions entered the market in late March, but has failed to stem soaring prices.

High costs are affecting a range of rice-based products. Satō Foods hiked the prices of its instant rice packs by as much as 14% in December 2024, and has announced a further rise on June 2, saying it is forced to pass some of the costs on to consumers. Beef bowl giants Sukiya and Yoshinoya increased the prices of their main products on March 18 and April 10, respectively, and convenience stores are raising the prices of rice balls and rice-based bentō.

On April 9, Minister of Agriculture, Forestry, and Fisheries Etō Taku announced that the government will continue to release stockpiled rice every month until the 2025 harvest enters the market.

(Translated from Japanese. Banner photo © Pixta.)