Japan rice prices hit new high despite gov’t countermeasures

Japan's rice prices rose to a record average of 4,214 yen ($29) per 5 kilograms, more than double the level a year earlier, the government said Monday, suggesting that recent stockpile releases have had limited effect in curbing the soaring costs.

The spike in rice prices follows a poor harvest in the summer of 2023, as high temperatures reduced the amounts available for distribution the following year.