The Japanese Ministry of Agriculture, Forestry and Fisheries said on Wednesday private rice stockpiles are forecast to recover to 1.62 million tons by June 2025, up from the historic low of 1.53 million tons recorded the previous year, signaling potential relief from recent supply constraints and price escalations triggered by severe summer weather conditions.
Despite the improved supply outlook, market observers anticipate rice prices to remain elevated due to persistent inflation affecting production costs, including utilities and fertilizers.
The ministry's analysis revealed that rice shortages during the summer months were exacerbated by increased consumer stockpiling, following the weather agency's unprecedented advisory in August warning of heightened risks for a magnitude 8 to 9 Nankai Trough mega earthquake.
