Rice Prices Expected to Fall Over Next Three Months

TOKYO, Nov 10 (News On Japan) - The outlook for rice prices over the next three months has declined sharply amid expectations that an increase in new rice harvests will ease supply and demand pressures.

The Rice Stable Supply Support Organization, comprising rice distributors and related businesses, announced on November 10th that its October index measuring the outlook for staple rice prices stood at 39. This marked an 18-point drop from September, when the index was above the key 50 threshold, signaling a shift toward a weaker price outlook for the first time in three months. The fall reflects growing forecasts of a bountiful new harvest that will loosen supply conditions. Meanwhile, according to data released by the Ministry of Agriculture, Forestry and Fisheries on November 7th, the average retail price of a 5-kilogram bag of rice sold at about 1,000 supermarkets nationwide was 4,235 yen, remaining in the 4,000-yen range for the ninth consecutive week.

Source: テレ東BIZ

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