Japanese retail prices of rice have turned upward again, even as new rice harvested this year has started hitting the shelves.
The average price at supermarkets across Japan stood at ¥4,275 per 5 kilograms, up for three consecutive weeks, according to data released by the agriculture ministry last week.
Retailers are worried that their profits will decrease as shoppers shun rice due to the high prices. In addition, many budget-minded consumers are choosing 2024 rice, which is priced lower, further decreasing profit margins for supermarkets.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.