Will the price fall? Japan has seen unprecedented increases in the cost of rice in recent months, affecting both consumers and the food industry. The surge is prompting the country to re-evaluate rice as a staple food in terms of food security and prepare for future uncertainties. In May, the retail price of a five-kilogram bag of rice was ¥4,268 (US$29.90), compared to ¥2,228 (US$15.60) a year earlier. Assuming that a household consumes 20 kilograms of rice per month, this hike forces them to spend an extra ¥98,000 (US$687) in a year. And given that more than 30 per cent of households in Japan had an income of below ¥3 million (US$21,032) in 2022, the hike has significant consequences. Save the Children Japan has already reported that almost a third of low-income families surveyed were reducing rice consumption due to the cost.
Rice prices soar as Japan rethinks food security | Lowy Institute
