Bags of rice are expected to start filling the shelves of Japan’s supermarkets again soon as farmers harvest their new crop, though the increase in supply will do little to tame higher prices.
The nation’s commercial rice stockpiles — already depleted after hot weather baked the 2023 crop — shrunk to their lowest on record in June as an influx of tourists lifted consumption. Panic buying following typhoon and earthquake warnings exacerbated the shortage and some retailers had to limit sales.
The harvest ramped up this month and will ease the supply squeeze, but farmers and the nation’s main grain distributor have agreed to higher contract prices. That will be passed on to consumers who were paying ¥2,871 ($20) for a 5 kilogram bag in central Tokyo last month, 23% more than a year ago.
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