Latest news with #ZenNoh
Japan Times
13-05-2025
- Business
- Japan Times
Japan's push to lower rice prices coming in baby steps
Japan's efforts to lower the price of rice through the release of its stockpile may finally be making some progress, albeit at a snail's pace. The average supermarket price of 5 kilograms of rice dropped last week for the first time since December, falling ¥19 to ¥4,214. This amounts to a 0.4% decline from the week starting April 28, the farm ministry announced Monday. However, the hefty ¥4,000 price tag is still more than double the price from the same period last year. Angry netizens took to X to express their frustration over the slight drop. "They said on the TV news that the price of rice dropped, but the amount of the price drop was ¥19. ... You call that a price drop?" one post read. 'We understand that the price of rice blends using stockpiled rice is lower than the average price of rice sold in retail stores, with the cheapest ones being in the mid ¥3,000 price range including tax — we believe this is a result of the increased supply of stockpiled rice to retail stores,' Chief Cabinet Secretary Yoshimasa Hayashi said on Tuesday. Despite the government releasing rice from its emergency stockpile since March, prices have remained high, partly because of the time it takes distributors to ship the auctioned rice to wholesalers. The average price for 5 kilograms of rice grain from the week starting on April 28 declined 0.4%, the first fall in 18 weeks. | Bloomberg The National Federation of Agricultural Cooperative Associations (Zen-Noh) purchased about 200,000 metric tons of stockpile rice out of the government's supply of 310,000 tons, but only around 63,000 tons — about 32% — have been shipped to wholesalers as of May 8. According to Zen-noh, it plans to distribute around 140,000 tons, or 70%, of its rice supply by the end of July. The major distributor said they have been delivering an average of 2,000 to 3,000 tons of rice to buyers every day. However, distribution efforts slowed during the first week of May due to the Golden Week holidays. The government plans to continue releasing rice from its emergency stockpile every month until around the end of July as it considers potentially revising the conditions for the auction. Currently, bidders are limited to major distributors such as Zen-noh, and auctions occur under the condition that the government will buy back the same amount of rice from the distributors within the next year. 'We are discussing what can be done in light of the current situation on a daily basis within the ministry,' said agriculture minister Taku Eto on Tuesday. 'I will make a firm announcement once a policy has been decided.' If the auction can be expanded to include more companies, it will likely lead to an increase in distribution channels and help circulate the rice more quickly in the market.
Japan Times
10-05-2025
- Business
- Japan Times
As prices soar, Zen-Noh ships just 32% of government-stockpiled rice
Japan's National Federation of Agricultural Cooperative Associations, or Zen-Noh, has shipped just 32% of the stockpiled rice that it bought from the government in March. Zen-Noh said Friday that as of a day earlier, it had completed shipments of 63,266 tons of the 199,270 tons of government-stockpiled rice that it bought through auctions in March. The release of stockpiled rice was part of the government's efforts to lower surging rice prices. The federation is currently shipping between 2,000 and 3,000 tons of rice per day. It is working to send out deliveries as quickly as possible, a Zen-Noh official said. Zen-Noh had been asked by wholesalers as of Thursday to ship 140,363 tons, or 70% of the rice it bought in the auctions. It was asked to ship 55,112 tons in March and April, 70,596 tons in May, 13,854 tons in June and 802 tons in July. The federation earlier this month said that it would promote early shipments after the agriculture ministry called on it to expand supply.
Japan Times
08-05-2025
- Business
- Japan Times
Price of rice at Japanese retailers hits record for 17th consecutive week
The average price of rice sold at around 1,000 supermarkets across Japan in the week through April 27 hit its highest level on record since March 2022 for the 17th straight week, the agriculture ministry has said. The average price for 5 kilograms of rice rose to ¥4,233 from ¥4,220 the previous week the ministry said Wednesday, with the price remaining at more than double the level seen a year earlier. The government began releasing stockpiled rice in March, but this has failed to stem the increases in rice prices. The government has been releasing 212,132 tons of stockpiled rice gradually following two rounds of auctions in March. Still, it is taking time for the rice to reach wholesalers and retailers. The National Federation of Agricultural Cooperative Associations (Zen-Noh) bought 199,270 tons of rice in the auctions. As of Thursday, only 56,903 tons, or 29% of the total, had been shipped. The government conducted a third auction from April 23 to 25 and plans to release stockpiled rice every month from May to July. The focus is on whether released stockpiled rice can be distributed smoothly and lead to a price reduction.
