Japan's rice prices rose to a record average of 4,233 yen ($30) per 5 kilograms, more than double the level a year earlier, the government said Wednesday, in a sign that its stockpile releases have had limited effect in stabilizing supply.
The 17th consecutive weekly increase comes as Prime Minister Shigeru Ishiba has instructed a policy chief of the ruling Liberal Democratic Party to draw up measures aimed at alleviating the negative impact of soaring rice prices.
During the seven days through April 27, the average price of rice sold at supermarkets across the nation rose by 13 yen per 5 kg, marking the highest level since data collection began in March 2022, according to the Ministry of Agriculture, Forestry and Fisheries.
Rice supply has recently tightened, partly due to last summer's high temperatures and growing demand from a surge in inbound tourism. The government has decided to release 312,000 tons of stockpiled rice to smooth market distribution.
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