Attention on the possibility of rice exports amid skyrocketing local rice prices in Japan

As local rice prices in Japan continue to soar, there is growing interest in the potential for increased exports of our rice to Japan. According to a recent report by Japan's Mainichi Shimbun, the average price of 5kg of rice, which the Ministry of Agriculture, Forestry and Fisheries surveyed at 1,000 nationwide supermarkets from the 3rd to the 9th, was recorded at 4,316 yen (approximately 46,000 won). If calculated based on a 20kg standard like in our country, it exceeds 160,000 won. This is double the price from last year and the highest price since the survey was conducted in March 2022. Even for premium rice, it is reported that 5kg bags are sold for around 5,000 yen depending on the variety. Moreover, the Japanese government is responding tepidly to these rice prices, and it is expected that rice prices will remain high for the time being. This is because Japan's Minister of Agriculture, Forestry and Fisheries, Norikazu Suzuki, a pro-agricultural figure known as a "farmer's ...