 "Japan imports rice from South Korea for the first time in 25 years as production slumps")
Japan’s rice crisis has forced the country to import he grain from South Korea for the first time in over 25 years to mitigate the effects of soaring prices, raising consumer sentiments.
According to local media reports, imported rice from South Korea arrived in Japan last month for the first time since 1999, despite the government’s efforts to lower the prices of the staple.
Prices of domestically produced rice have more than doubled in Japan since last year, this time, driving up demand for cheaper foreign alternatives.
As per public broadcaster NHK, only a small amount of South Korean rice, just two tonnes, has been sold so far through online platforms and supermarkets. However, there are plans to export an additional 20 tonnes in the near future.
How costly is rice in Japan?
The country’s agriculture ministry said that till April 6, prices of 5 5-kilogram bag of rice stood at 4,214 yen, or about 29 dollars. This was more than double the price of rice last year at this time.
The steep rise in prices has been attributed to a decline in rice production due to bad weather in 2023.
Japanese use California rice
Arata Hirano, a restaurant owner in Tokyo, began using American rice last year after a domestic shortage caused Japanese rice prices to spike.
He told Reuters that although the cost of the Californian rice he now uses has doubled since he first bought it last summer, it remains more affordable than locally grown varieties.
“I have no qualms about eating imported rice. Prices have gone up, so I’m always looking for cheaper options,” he said.
Japan taps into rice reserves
A fall in rice production has pushed the government to take an unusual step of tapping its rice reserves. Last month, Japan released 210,000 tonnes of stockpiled rice to stop any further price rise.
In the past, Japan has tapped into its rice reserves in response to natural disasters or poor harvests, but this marked the first instance of intervention due to distribution challenges.
Impact Shorts
More ShortsJapan’s rice reserves were already strained after extreme heat impacted the 2023 harvest. The stockpiles declined further last year, in part due to increased demand driven by a surge in tourism. Panic buying triggered by typhoon and earthquake alerts also disrupted supply, prompting some retailers to limit purchases.
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