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Amount of rice bought by Japan households up despite soaring prices
MAINICHI
| Kemarin, 10:15
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TOKYO (Kyodo) -- The amount of rice a household in Japan bought in 2024 rose 6.3 percent from a year earlier despite soaring prices, government data showed Saturday, as fears of a shortage of the main staple likely prompted consumers to purchase more.
The growth in the volume of rice bought by households with two or more people marked the first increase since 2020 when demand rose as many consumers stayed home during the COVID-19 pandemic.
The quantity of rice purchased per household last year reached 60.20 kilograms, up 3.55 kg from 2023, according to an analysis of consumer spending data from the Ministry of Internal Affairs and Communications.
Rice prices are still high in Japan, spiking 80.9 percent in February from the same month in 2024, the sharpest since comparable data became available in 1971, the latest economic indicator released by the ministry said.
In 2024, the volume through July remained roughly unchanged from the previous year but jumped 29 percent in August as concerns over a tighter supply grew, partly due to a government advisory about a potential megaquake that led to rice shelves being emptied in stores.
Purchases continued to exceed the previous year's levels from September through November, even as prices kept rising and newly harvested rice entered the market, easing supply worries. In December, the amount edged down, the analysis showed.
Consumers grew anxious about a rice shortage amid lingering expectations of prolonged price increases, likely prompting them to hoard supplies, as it is difficult for Japanese households to find an alternative staple, analysts said.
In a bid to prevent rice prices from skyrocketing, the government decided in February to release up to 210,000 tons from its stockpiles, saying the unprecedented move aimed at stabilizing supply would bring the market back to normal.
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