Overview

• Prices dropped by ¥25 to an average of ¥4,260 per 5kg bag in the week to May 25, marking the first decline in three weeks according to the agriculture ministry.
• After selling 310,000 tons of stockpiled rice through auctions, the government has begun distributing additional stocks to retailers under no-bid contracts at ¥2,000 per 5kg bag.
• Hundreds of shoppers queued for hours at outlets including Iris Ohyama, Ito-Yokado and Aeon under one-bag-per-household limits, with stocks selling out rapidly.
• Rice prices have more than doubled year-on-year largely because of extreme heat-related production shortfalls and other supply pressures.
• Farm Minister Shinjiro Koizumi pledged to release more grain and explore buying back rice from wholesalers to prevent further price spikes.