Japan's farm ministry has revised upward its estimate for rice demand for the year through June 2025 to around 7.1 million tons, up 400,000 tons from the initial projection released last year, a government source said Monday.
The rice demand forecast by the Ministry of Agriculture, Forestry and Fisheries serves as a key indicator for farmers preparing seedlings for next year's crop. It also affects market prices, guiding production decisions across the country.
The revision underscores that the ministry's underestimation likely contributed to the spike in rice prices that has rattled the public for around a year.
The sharp rise in rice prices since last year has been mainly driven by reduced distribution volumes due in part to heat damage and pest outbreaks, while increased consumption further tightened supply and demand conditions, analysts said.
By the end of June, the government released around 400,000 tons of its stockpiled rice, effectively covering most of the surplus demand with reserve supplies to help stabilize the market.
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