Japan's rice stocks fall to record low of 1.56 million tons
Tokyo, July 31 (Hibya) - Japan's private sector rice stocks reached 1.56 million tons at the end of June, the lowest level since records began in 1999, according to a preliminary report released by the Agriculture Ministry on Tuesday.
Rice stocks fell 410,000 tons from a year earlier, reflecting a slump in rice production last year due to scorching heat, a surge in demand from foreign tourists and an increase in consumption as rice prices rose more slowly than bread and noodle prices.
The latest figure, presented at today's meeting of an advisory panel to the agriculture minister, was 210,000 tons lower than the 1.77 million tons estimated in March.
The first-grade crop, which accounts for 61.8 percent of rice harvested in 2023, was down about 18 percentage points from a year earlier. As a result, groat production declined, leading to a reduction in rice on the market.
Meanwhile, rice demand increased by 110,000 tons to 7.02 million tons in June 2024, the first increase in a decade.
Usa News Agency
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