Japan rice prices have finally dropped below the 4,000 yen mark per 5 kilograms. As a result, this marks the first time in nearly four months that consumers have seen some relief. The average supermarket price now stands at 3,920 yen, according to the Ministry of Agriculture, Forestry and Fisheries. Specifically, this decline occurred during the week ending June 15. Compared to the previous week, prices fell by 256 yen. Notably, it is the first time since early March that prices have returned to the 3,000 yen range.
The main factor behind the drop is the release of reserve rice. Indeed, Farm Minister Shinjiro Koizumi confirmed this, stating a clear message from the government is proving effective. He pointed to the increased distribution of stockpiles as a key reason. Furthermore, blended rice, which includes government reserve stock, now accounts for 50 percent of the market. That’s a 6-point increase in just one week. Therefore, the strategy appears to be working.
Prime Minister Shigeru Ishiba has promised to bring Japan rice prices below 4,000 yen by the end of June. However, his government is under pressure to act, with inflation hitting household budgets hard. Even though the recent price fall offers relief, rice remains nearly twice as expensive as it was a year ago. In 2024, Japan recorded an average household rice consumption of 60.20 kilograms. Consequently, this makes the cost spike a major issue for families nationwide.
Consumer prices rose 3.7 percent in May, the highest rate in over two years. Moreover, rice prices have set new records for eight straight months. In fact, they jumped 101.7 percent year-over-year due to supply issues. To address this, the government has introduced new penalties to prevent reselling and hoarding. Anyone reselling store-bought rice at higher prices can face up to one year in prison or a fine of 1 million yen, or both. With a sharp message and decisive policy, the government hopes to keep Japan rice prices in check. As voters prepare for the July 20 upper house election, food affordability may heavily influence their choices.
