TOKYO, Feb 11 (News On Japan) –
Rice costs in Japan proceed to rise, regardless of the federal government’s plan to launch emergency reserves in an effort to stabilize the market. A bowl of tendon, topped with freshly fried tempura, is incomplete with out steaming scorching rice, however the price of this staple has been steadily rising.
Akimitsu Tanihara, proprietor of the favored tempura restaurant Tempura Akimitsu, emphasised his dedication to utilizing domestically grown rice, stating that whereas numerous efforts are being made to chop prices, the value of home rice has surged dramatically, leaving few options. The Ministry of Agriculture, Forestry and Fisheries (MAFF) introduced on February tenth that the common retail value of a 5 kg bag of rice at roughly 1,000 supermarkets nationwide had risen by 38 yen from the earlier week to three,688 yen as of February 2nd—the best recorded value thus far.
At a well-liked tempura restaurant in Asakusa, Tokyo, clients continued to get pleasure from hearty bowls of tendon regardless of the hovering value of rice. The restaurant’s procurement prices have doubled in comparison with 2024, but it has kept away from elevating costs and has maintained its free large-portion rice service. However, the proprietor warns that if rice costs proceed to climb, a rise in menu costs could develop into unavoidable.
In response to considerations over rising prices, MAFF introduced on February seventh that it could expedite the discharge of government-held reserve rice. The ministry is predicted to stipulate the amount to be auctioned as early as this week. Restaurants and companies that rely closely on rice view this as a possible reduction, with one enterprise proprietor stating that if the transfer helps stop additional value hikes, it could be a major assist.
Japan’s reserve rice system is designed to take care of stability throughout emergencies corresponding to pure disasters or poor harvests. The authorities purchases roughly 200,000 to 210,000 tons of rice yearly, sustaining a stockpile of round a million tons with a five-year storage cycle. Expired stock is repurposed as livestock feed. However, with the announcement of the reserve rice launch, the query stays whether or not this measure could have a major impression on rice costs.
FNN interviewed Tomio Kanazawa, president of Kanazawa Rice Sales, a rice wholesaler in Gunma Prefecture that provides rice to accommodations, eating places, hospitals, and college cafeterias. Kanazawa said that as of now, no drastic value adjustments have been noticed, as there may be nonetheless no info on when the reserve rice will truly attain distributors. He added that one motive for the persistently excessive rice costs is that some wholesalers have been stockpiling rice in anticipation of upper promoting costs, inflicting provide bottlenecks out there.
Kanazawa emphasised that encouraging these stockpilers to launch their rice into the market is essential to stabilizing costs. He famous that if the reserve rice launch will increase market provide, wholesalers who’ve been holding again stock could rush to promote earlier than costs drop, which might result in a wider market correction. He urged the federal government to supply additional particulars on the reserve rice launch as quickly as attainable, stressing that swift motion is crucial.
The coming weeks will decide whether or not the discharge of reserve rice could have the meant impact of stabilizing rice costs or if extra measures shall be wanted to handle the continued value surge.
Source: FNN