According to Kyodo News, Japan's Ministry of Agriculture, Forestry and Fisheries (MAFF) has announced that the average price of rice in supermarkets nationwide was 4,214 yen (HK$223) per 5 kilograms during the period of April 28 to May 4, which is the first time that the price of rice has fallen in the past 18 weeks since December last year, although the decrease is very small, down by 19 yen (HK$1) only on a weekly basis.
Japan's Minister of Agriculture, Forestry and Fisheries met with reporters on May 13 and confessed that "the level of consumer satisfaction has not been reached" and that it is necessary to release the fourth batch of reserve rice and to speed up the circulation of the reserve rice. According to the Global Times, with the introduction of the reserve rice into the market, some supermarkets have launched low-priced commodities mixed with the reserve rice, which has effectively lowered the overall selling price. Data showed that between April 28 and May 4, the sales volume of rice in supermarkets increased by 14.5% year-on-year. Despite the downward trend in prices, the current price of rice still remains at a high level of about twice that of the same period last year.
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