The Ministry of Agriculture, Forestry and Fisheries announced on February 19 that the trading price of new rice in Japan had reached a record high in January.

The price, which wholesalers and other use, averaged 25,927 yen per 60 kg of un-milled rice across all brands, which is about 1.7 times higher than January 2024.

Relative transaction prices for rice have remained high for five consecutive months since September 2024, reaching record highs.

The prices for January are from before the ministry announced the release of stockpiled rice, but the focus is what impact this will have on prices for February and onward.