Japan rice prices fall as reserve stocks hit shelves-Xinhua
TOKYO, June 24 (Xinhua) -- Average retail rice prices in Japan have dropped to the 3,000-yen (about 20.6 U.S. dollars) range per 5 kg for the first time in about three months, official data showed.
For the week ending June 15, the nationwide average rice price across roughly 1,000 supermarkets fell by 256 yen from the previous week to 3,920 yen, according to the Ministry of Agriculture, Forestry and Fisheries.
This marked the fourth consecutive weekly decline.
The ministry attributed the decline to the rollout of lower-priced reserve rice stock, which is now appearing on retail shelves.
With wider distribution of the reserve rice expected in the coming weeks, attention is now focused on whether the overall downward trend in rice prices will continue. ■