① Japan issued a warning for a major earthquake in the South China Sea Trough. In addition to water and emergency supplies, rice was also being sold in large quantities, and recent earthquakes in many places have also prompted people to stock up on rice; ② As freshly harvested rice begins to be put on the shelves, concerns about supply shortages may soon disappear.
Finance Association, August 25 (Editor: Niu Zhanlin) The July National Consumer Price Index released by Japan's Ministry of Internal Affairs and Communications this week shows that the rice category rose 17.2% from the same period last year, the biggest increase in 20 years. Prices for major rice hit the highest level in 11 years.
Over the past few weeks, people all over Japan have noticed that the supply of rice in stores is insufficient. The shelves are often empty, and prominent notices have been posted reminding customers that rice is limited.
Rice is an important staple on the Japanese table, but why is this country suddenly facing a shortage of rice?
Ministry of Agriculture, Forestry and Fisheries official Hiroshi Itakura explained that there was a temporary shortage due to the earthquake and other factors, but this issue is not worth being wary of. “Rice is grown in Japan once a year, and the main rice-producing regions begin harvesting new rice in September, so August is always the scarcest time of the year.”
He added that in reality, there were minor shortages around June, July, and August, but in the past week or two, Japan issued a warning for a major earthquake in the South China Sea Trough. In addition to water and emergency supplies, rice has also been sold in large quantities. Recent earthquakes in many places have also prompted people to stock up on rice.
Furthermore, the purchase restriction warning itself will trigger public panic, causing more consumers to join the rush, further causing products to become scarce.
A Japanese official recently said on a TV program that there may be a deeper problem with the tight supply of rice. The Ministry of Agriculture, Forestry and Fisheries has been encouraging farmers to grow livestock feed instead of rice, which has led to a decrease in the amount of rice produced in Japan.
After the official disclosure of rice inventory data in June, many stores imposed purchase restrictions. By July, many retailers couldn't offer rice at all.
As the situation worsened, the media coined a term for the situation — “Reiko and Rice Riots.” Although there have been no riots in the traditional sense of the word, shortages have led to acts such as panic buying, and the situation has not improved.
A representative of the Japan Agricultural Association claimed that other reasons for the shortage of rice include increased consumption by inbound tourists and the impact of high temperatures on the harvest. The intense heat in the summer of 2023 caused high temperature and heat damage to rice. Market volume was reduced, and prices rose due to tight supply and demand.
However, concerns about supply shortages may soon disappear as freshly harvested rice begins to hit the shelves.
Itakura said, “Distribution of freshly harvested rice has gradually begun. Early rice from Kagoshima and Miyazaki prefectures is already on store shelves, and is progressing in other places.”
The representative of the Agricultural Cooperative Association reiterated the importance of not making panic purchases. “There are enough stocks for people to use, so it is essential for the government to keep calm and act accordingly to maintain a balance between rice supply and demand.”