Those of us living in Japan are watching as the price of everything seems to go up month after month. The latest price spike, however, is really hitting home. Rice, a staple of Japanese eating, has skyrocketed by 90% in the past five months. How long will the price increase last?
A report from WBS says that Japan’s Ministry of Agriculture has announced the average supermarket price for a five-kilogram bag of rice has risen to 3,829 yen (USD $25) from the period between February 3rd and 9th. That’s a 90% climb compared to the same period the previous year – a 1,811 yen ($12) climb.
NHK says that the price spike is affecting different strains of rice differently. Fukuoka Prefecture’s Hinohikari strain is the hardest hit, seeing a 99% spike. Ibaraki’s Koshihikari is the next largest victim at 91%.
The price hike spells misery for consumers. However, it’s also putting the squeeze on restaurants. NTV reports that some shops that used to give rice as part of the meal are now charging for it, passing the explosive increase onto consumers.
Is relief on the way?
Rice isn’t the only thing that’s gotten more expensive. Cabbage prices have also spiked, putting the pinch on tonkatsu restaurants that give away heaps of the stuff as a free side dish. Other vegetables have also risen in cost.
The current rice shortage, says NHK, is driven mainly by last year’s insanely hot weather in Japan, which led to a bad crop. Officials also contend that a post-COVID spike in eating out and tourism has led to higher levels of consumption. The weak yen has also caused a spike in prices for bread and pasta, two popular alternative sources of starchy carbohydrates.
The shortage has forced the Japanese government to release 210,000 tons of rice from its strategic reserves into the market, according to FTV. However, consumers likely won’t see the effects of this until the end of March.
Tourists benefiting from the cheap yen likely won’t notice the spike in rice prices. But for residents of Japan who earn their money in yen, it’s yet another way in which daily life is becoming steadily more difficult.
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