Latest news with #curryshops
South China Morning Post
3 days ago
- Business
- South China Morning Post
Tough times for Japan's curry shops as surging rice prices fuel bankruptcies
A record number of curry shops in Japan went out of business in the past year, as purveyors of one of the country's most beloved dishes took a hit from soaring rice prices Thirteen curry shops with more than 10 million yen (US$70,000) in debt filed for bankruptcy in the year ending in March – marking a record high for the second consecutive year, according to a report from Tokyo-based research firm Teikoku Databank. The total number of bankruptcies is likely much higher when considering smaller family-run shops, Teikoku said. Prices of mainstay ingredients in Japanese curry – such as rice, spices, meat and vegetables – have gone up due to a rice shortage, adverse weather and a weak yen, the report said. Higher energy prices have also dented the profits of shop operators. Japanese curry, a thick brown sauce containing meat and vegetables, is usually served on a bed of rice. A basic curry rice dish, a classic comfort food, now costs 365 yen (US$2.50) – a record high, according to Teikoku. Prime Minister Shigeru Ishiba's government has been scrambling to combat skyrocketing rice prices in Japan by releasing stockpiles of the staple ahead of a summer election. 01:24 Japanese shoppers scramble for cheap government-issued rice amid shortage crisis Japanese shoppers scramble for cheap government-issued rice amid shortage crisis During the coronavirus pandemic, takeaway and delivery orders had fuelled a curry boom – that has now also slowed and hurt sales for curry shops, Teikoku said.
South China Morning Post
3 days ago
- Business
- South China Morning Post
Tough times for Japan's curry shops as surging rice prices fuel bankruptcies
A record number of curry shops in Japan went out of business in the past year, as purveyors of one of the country's most beloved dishes took a hit from soaring rice prices Thirteen curry shops with more than 10 million yen (US$70,000) in debt filed for bankruptcy in the year ending in March – marking a record high for the second consecutive year, according to a report from Tokyo-based research firm Teikoku Databank. The total number of bankruptcies is likely much higher when considering smaller family-run shops, Teikoku said. Prices of mainstay ingredients in Japanese curry – such as rice, spices, meat and vegetables – have gone up due to a rice shortage, adverse weather and a weak yen, the report said. Higher energy prices have also dented the profits of shop operators. Japanese curry, a thick brown sauce containing meat and vegetables, is usually served on a bed of rice. A basic curry rice dish, a classic comfort food, now costs 365 yen (US$2.50) – a record high, according to Teikoku. Prime Minister Shigeru Ishiba's government has been scrambling to combat skyrocketing rice prices in Japan by releasing stockpiles of the staple ahead of a summer election. 01:24 Japanese shoppers scramble for cheap government-issued rice amid shortage crisis Japanese shoppers scramble for cheap government-issued rice amid shortage crisis During the coronavirus pandemic, takeaway and delivery orders had fuelled a curry boom – that has now also slowed and hurt sales for curry shops, Teikoku said.
Japan Times
3 days ago
- Business
- Japan Times
Soaring rice prices take a bite out of Japan's beloved curry shops
A record number of curry shops in Japan went out of business in the past year, as purveyors of one of the country's most beloved dishes took a hit from soaring rice prices. Thirteen curry shops with more than ¥10 million ($70,000) in debt filed for bankruptcy in the year ended March — a record high for a second consecutive year, according to a report from Tokyo-based research firm Teikoku Databank. The total number of bankruptcies is likely to be much higher when considering smaller mom-and-pop shops, the firm said. Prices of mainstay ingredients in Japanese curry — such as rice, spices, meat and vegetables — have gone up due to a rice shortage, adverse weather and a weak yen, the report said. Higher energy prices have also dented the profits of shop operators. Japanese curry, a thick brown sauce containing meat and vegetables, is usually served on a bed of rice. A basic curry rice dish, a classic comfort food, now costs ¥365 — a record high, according to Teikoku Databank. Prime Minister Shigeru Ishiba's government has been scrambling to combat skyrocketing rice prices in Japan by releasing stockpiles of the staple ahead of a summer election. During the coronavirus pandemic, takeout and delivery orders fueled a curry boom that has now also slowed, hurting sales for curry shops, Teikoku Databank said.
Bloomberg
3 days ago
- Business
- Bloomberg
Japan Curry Shops See Record Bankruptcies as Rice Prices Soar
A record number of curry shops in Japan went out of business in the past year, as purveyors of one of the country's most beloved dishes took a hit from soaring rice prices. Thirteen curry shops with more than ¥10 million ($70,000) in debt filed for bankruptcy in the year ending in March — marking a record high for the second consecutive year, according to a report from Tokyo-based research firm Teikoku Databank. The total number of bankruptcies is likely much higher when considering smaller mom-and-pop shops, Teikoku said.
