Japan’s Rice Prices Dip for First Time in Weeks
(MENAFN) For the first time in three weeks, rice prices in Japan have declined following the government's decision to release stored reserves, the Ministry of Agriculture, Forestry and Fisheries reported.
Data from the ministry revealed that the average cost of rice available at roughly 1,000 supermarkets across the country settled at 4,260 yen (approximately 29.76 USD) per 5 kilograms, including tax. This figure marks a decrease of 25 yen compared to the previous week, a change attributed to the influx of government-stockpiled rice hitting retail shelves.
Despite this dip, the current price remains nearly twice as high as it was during the same timeframe last year.
In an effort to curb the soaring prices, Japan’s government auctioned off 310,000 tons of reserved rice between March and April.
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