The average price of rice sold in supermarkets across Japan has dropped to 3,542 yen (approximately $24) for a 5-kilogram bag, as reported for the week ending August 3. This marks the first decline in two weeks.
The Ministry of Agriculture, Forestry and Fisheries of Japan attributes this decrease to an increase in the sales of government-stocked rice through discretionary contracts. These contracts allow for the sale of rice that the government has stored, which can influence market prices.
Understanding the context, rice is a staple food in Japan, and its pricing can be affected by various factors, including supply chain dynamics and government policies aimed at stabilizing food prices.
Source: www3.nhk.or.jp