TOKYO (XINHUA) – The average price of newly harvested rice in Japan has surged 48 per cent in September from a year earlier amid higher production costs as well as stronger market demand following a shortage, local media reported yesterday.
Prices for all varieties of unpolished rice sold by the National Federation of Agricultural Cooperative Associations and other supplier bodies to wholesalers averaged JPY22,700 (about USD152) for 60 kilogrammes (kg) in September, public broadcaster NHK reported, citing the Farm Ministry’s data. The figure marked the highest on record for September since the ministry began surveying rice prices in 2006, the report said.
The ministry attributed the sharp rise to increased payments by agricultural cooperatives to farmers to cover rising production costs, including fertiliser prices.
Intensifying competition among customers due to a crop shortage also contributed to the higher payments, the report said.
In Japan, rice from each year’s harvest begins appearing on store shelves around September.
