Tuesday, August 26, 2025

Japan’s rice shortage drives imports to multi-year high in May

Date:

A worsening rice shortage in Japan has pushed domestic prices to multi-year highs, prompting a sharp surge in private-sector imports in May, according to revised trade data released by the Finance Ministry on Friday.Tariffed rice imports soared to 10,605 tons in May 2025, a dramatic increase from just 115 tons a year earlier and more than 3.5 times the total volume imported in all of fiscal 2024. The bulk of shipments came from the United States (7,894 tons), followed by Taiwan, Thailand, and Vietnam.
The spike comes as Japanese consumers and retailers grapple with soaring prices caused by a domestic supply crunch. An auction-based mechanism used by the government to release its stockpiles has been blamed for worsening price pressures.
To address the crisis, the government began direct sales of stockpiled rice to retailers in late May, aiming to calm the market and reduce reliance on high-tariff imports.Still, analysts warn that elevated import levels could return if prices for the upcoming harvest remain high. If newly harvested rice stays near ¥4,000 ($28) per 5 kilograms, imports may climb again, according to Yasufumi Miwa, agriculture expert at the Japan Research Institute.

Japan is committed to importing 770,000 tons of rice annually tariff-free under its WTO minimum access quota, though only around 100,000 tons is used for direct consumption. All rice beyond this quota attracts a tariff of ¥341 per kg, adding further pressure on consumers and retailers already facing elevated food costs.

(inputs from Kyodo News)

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Small-cap multibagger stock hits upper circuit for 48 days in a row. Do you own?

स्मॉल-कैप मल्टीबैगर स्टॉक: COLAB प्लेटफॉर्म्स की शेयर की कीमत...

Clean Science drives 42% of total BSE turnover on Thursday after block deal saga

Shares of Clean Science and Technology saw wild swings...

Will new Income Tax Act make things simpler for taxpayers? Experts weigh in

Income Tax Act 2025: The new Income Tax (I-T)...

S&P 500 posts longest losing streak since January weighed by macro data, Walmart results

Benchmark indices on Wall Street continued to grind lower...