Japan Extends Sales Deadline for Government-Stockpiled Rice Amid 195 Yen Weekly Price Rise to 3,737 Yen per 5 kg

Japan's Ministry of Agriculture, Forestry and Fisheries announced that the average retail price of rice at supermarkets nationwide rose to 3,737 yen per 5-kilogram bag for the week of August 4 to 10, marking a 195 yen increase from the previous week and the largest weekly rise in three years. This price is approximately 1.4 times higher than the same period last year. The price increase is attributed to the arrival of new early-harvest rice, which has reduced the proportion of lower-priced government stockpiled rice (備蓄米) in overall sales. Some stores are selling new rice varieties at prices as high as 5,980 yen per 5 kilograms, while others have refrained from purchasing due to high costs. In response to slow deliveries and logistical delays, the government has decided to extend the sales deadline for government-stockpiled rice sold under discretionary contracts beyond the original August 31 cutoff. About 280,000 tons of the 500,000 tons released under these contracts have been contracted, but roughly 100,000 tons remain undelivered. Agriculture Minister Shinjiro Koizumi emphasized the responsibility to ensure contracted quantities reach the market and announced the extension of the sales period to allow retailers more time to sell the stockpiled rice. The extension aims to prevent further price increases in retail rice, particularly for branded varieties that remain at elevated price levels. The Ministry is also promoting the development of innovative new rice strains and supporting crop diversification to stabilize rice supply. The government’s move to extend the sales deadline reflects challenges in distribution and the ongoing high prices of new rice amid concerns about supply stability.