Government-stockpiled rice aiming at resolving persisting price rises displayed at Ito-Yokado grocery store, a subsidiary of Seven & i Holdings, in Tokyo, Japan, May 31, 2025. Photo: Reuters
The average rice price in transactions between wholesalers and rice buyers dealing with farmers, such as the National Federation of Agricultural Cooperative Associations, or Zen-Noh, came to 27,649 yen for 60 kilograms of brown rice, up 77 pct from that for 2023 rice a year earlier.
The ministry believes that the record price in May had little impact on retail prices as 2024 rice accounted for only about 3 pct of all transactions.
Trade volume for the newest rice shrank to a May record low of about 52,000 tons from 79,000 tons a year before.
Amid intensifying competition to buy rice from farmers, trade in 2024 rice peaked earlier than in usual years.
Trade volume hit a record high for each month from September to December, but logged a record low from January to May.
