Japan approved its 2025 agricultural white paper on May 29, saying the government underestimated domestic rice supply-demand and did not promptly release reserve rice, contributing to a price surge that began in summer 2024. The paper said officials assumed population decline would lower rice demand and therefore did not actively monitor market circulation. Panic buying over earthquake risk and heat-related poor harvests also helped push prices higher. Rice commodity prices rose 67.5% in 2024, t

Japan approved its 2025 agricultural white paper on May 29, saying the government underestimated domestic rice supply-demand and did not promptly release reserve rice, contributing to a price surge that began in summer 2024. The paper said officials assumed population decline would lower rice demand and therefore did not actively monitor market circulation. Panic buying over earthquake risk and heat-related poor harvests also helped push prices higher. Rice commodity prices rose 67.5% in 2024, the largest increase since comparable data began in 1971; average supermarket 5 kg retail prices exceeded 4,000 yen (about 170 yuan).