Japan Will Tap Emergency Rice Supplies as Prices Surge 82%
- The government will sell at least 210,000 tons of rice
- Price for a 5 kilogram bag of rice has surged to 3,688 yen
The 210,000 tons is about 3% of the country’s forecasted annual demand, according to Bloomberg’s calculations.
Photographer: Buddhika Weerasinghe/BloombergThis article is for subscribers only.
Japan will sell 210,000 tons of rice from its emergency stockpiles as households are paying record prices for the grain.
The average retail price for 5 kilograms of rice surged 82% to 3,688 yen ($24) in the week of Jan. 27th compared with a year ago, according to the Ministry of Agriculture, Forestry and Fisheries.