News On Japan

Rice Prices Expected to Decline Over Next Three Months

TOKYO - A survey of industry participants indicates that rice prices are expected to decline over the next three months, reflecting a continued bearish outlook across the sector.

The survey, conducted among organizations comprising rice producers and wholesalers, uses an index in which values closer to 100 indicate stronger expectations of price increases.

In the March survey, the index for the three-month outlook stood at 27, remaining below the key threshold of 50 for a sixth consecutive month, suggesting that expectations of falling prices continue to dominate.

Industry officials pointed out that rice inventories have been building up, while transactions between businesses have also slowed.

According to the latest data released by the Ministry of Agriculture, Forestry and Fisheries, supermarket rice prices have also fallen for seven consecutive weeks, drawing attention to how the market will evolve in the coming months.

Source: FNN

News On Japan
POPULAR NEWS

A very strong Typhoon No. 18 is forecast to make its closest approach to Okinawa's main island from the night of August 25 into the early hours of August 26, bringing violent winds, torrential rain and waves exceeding 9 meters near the storm's center as unstable weather continues across wide areas of Japan. As of 3 a.m. on August 25, Typhoon No. 18 was located about 120 kilometers southeast of Minamidaito Island and was moving west-northwest at 20 kilometers per hour.

An 85-year-old couple have donated a combined 400 million yen to Osaka City with a request that the money be used to create a giant Myaku-Myaku statue about 20 meters tall at the former site of the Osaka-Kansai Expo, envisioning a landmark that could become a lasting symbol of the event and of renewed prosperity for Kansai and Japan.

Lawson plans to cut prices on its main line of onigiri rice balls by 10 yen from September 29 as falling rice prices begin to feed through to retail costs.

Police have established a temporary police post in the whaling town of Taiji, Wakayama Prefecture, ahead of the September 1 opening of the annual drive hunt for whales and dolphins.

A 39-year-old woman from Taiwan has been arrested on suspicion of pouring an oil-like liquid on the national treasure Buddha Footprint Stone at Yakushiji Temple in Nara in April, police said.

MEDIA CHANNELS
         

MORE Business NEWS

Japan's traditional neighborhood public baths are struggling with rising fuel, labor and operating costs, but unlike most businesses they cannot freely raise prices because admission fees remain regulated under a postwar price-control law introduced in 1946.

Tokyo stocks fell on August 24, with the Nikkei 225 closing at 65,528.09, down 488.27 points, or 0.74%, as global bond-yield pressure and caution ahead of Nvidia’s earnings triggered selling in artificial intelligence and semiconductor-related shares, even as the broader TOPIX edged higher.

Suzuki has unveiled a prototype of its first kei-class electric vehicle, the e SKY, which is scheduled to go on sale during the current fiscal year with a driving range of 310 kilometers, among the longest offered by a domestically produced kei EV.

Following the fare revision, a labor union representing taxi drivers in the prefecture and other groups held a news conference calling for the proportion of operating revenue paid to drivers to be raised from its current level to at least 60%.

China's exports of rare-earth magnets to Japan fell by more than half in July from a year earlier, while shipments of tungsten carbide remained at zero for a sixth consecutive month, according to trade data released by Chinese customs authorities.

Japan's nationwide core consumer price index rose 1.8% in July from a year earlier, with the pace of inflation accelerating for a second consecutive month as higher food prices and a rebound in energy costs outweighed a sharp decline in rice prices.

Mitsubishi Electric said on August 20 that it will acquire U.S.-based PCI Energy Solutions, a developer of software used to manage electricity trading and other energy operations, in a deal worth about 220 billion yen, the largest acquisition in the Japanese company's history.

Tokyo stocks rebounded on August 20, with the Nikkei 225 closing at 66,216.79, up 890.37 points, or 1.36%, as gains in U.S. equities, a sharp rally in South Korean semiconductor shares and easing global bond-market stress encouraged investors to buy back Japanese shares after two days of heavy selling.