Increasing Prices of Paprika in Japan in March 2023

Paprika prices have been high in Japan continuously since January 2023. As of March 24, 2023, the average retail price was USD 1.52/kg, which is almost 30% more than the average for March 2023. The main reason for this situation is lower import volumes. Japan imports 90% of the paprika consumed in Japan. Lower import volumes mean a collapse in the domestic supply-demand balance, which affects prices. In particular, imports from South Korea appear to be declining. In January 2023, imports of paprika were at a 40% YoY decline. According to wholesale markets, this situation has not changed recently.