Japan's Rice Crisis: A Staple Turned Luxury Amidst Soaring Prices
Rice prices in Japan have doubled due to a shortage, driven by a poor harvest and natural disasters. Government actions to temper prices include releasing emergency stockpiles and reducing import levies, but prices remain high. The crisis poses a challenge ahead of key parliamentary elections.
Japan is facing an unprecedented rise in rice prices, a staple deeply woven into the nation's culture, due to supply shortages stemming from a substandard 2023 harvest and exacerbated by a strong earthquake in 2024.
The government has responded by releasing rice from its emergency stockpile and attempting to ease market strain through import concessions. However, consumer prices remain steep, placing significant pressure on policymakers, especially with upcoming parliamentary elections looming.
The crisis highlights the vulnerability of Japan's rice market and the challenges of balancing domestic production with import policies under existing World Trade Organization agreements.
(With inputs from agencies.)
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