Japan’s rice prices fall for first time in 3.5 years

TOKYO: Rice prices in Japan finally fell in May for the first time in three and half years, officials said Friday, following sharp rises for the staple that put the government under huge pressure.

Rice prices skyrocketed in 2024 and 2025 because of supply problems linked to hot weather and panic-buying after a “megaquake” warning in 2024, amongst other factors.

Combined with falling living standards and corruption scandals, this led to voters deserting the ruling party and the resignation in September of Prime Minister Shigeru Ishiba after less than a year.

Rice prices excluding luxury brand Koshihikari were 5.4% lower in May than a year earlier, the first drop since November 2022, a government official told AFP.

The government, now headed by the popular Sanae Takaichi, took various measures to bring rice prices down, including by releasing emergency stockpiles of the grain.