What is Japan's projected rice demand for the next year?
Synopsis
Key Takeaways
- Japan's rice demand is projected to rise to 7.11 million tonnes.
- Rice production is expected to increase to 7.45 million tonnes in 2025.
- Private sector rice inventory may reach 2.3 million tonnes.
- Demand factors include tourism and household consumption.
- The Philippines is reviewing its rice import policies.
Tokyo, Sep 20 (NationPress) The demand for rice in Japan is anticipated to experience a slight increase, reaching 7.11 million tonnes in the year ending June 2026, as reported by the country's agriculture ministry.
Moreover, the forecast for staple rice production in 2025 is set to soar to 7.45 million tonnes, driven by expanded planting efforts to address shortages, according to estimates from the Ministry of Agriculture, Forestry and Fisheries.
In addition, the private sector's rice inventory is expected to approach 2.3 million tonnes by the end of June next year, a notably high figure that may rival the record stockpile established in 2015, as reported by Xinhua news agency.
The ministry's food council subgroup, which traditionally bases staple rice demand projections on declining population and rising bread consumption, has now considered the increasing demand from foreign tourists and households.
In related news, the Philippines is contemplating extending its rice import suspension by 15 to 30 days as farmgate prices of palay, or unhusked rice, improve, stated Agriculture Secretary Francisco Tiu Laurel on Friday.
Earlier, Philippine President Ferdinand Romualdez Marcos imposed a 60-day ban from September to October to safeguard local farmers during the peak harvest season.
Laurel indicated that the Department of Agriculture will advise Marcos by the end of September on whether to prolong the moratorium, stating, "Pending data validation, I am now inclined to recommend that he extend the ban for at least 15 to 30 days."
Preliminary data shows that wet palay prices rose from as low as 8-10 pesos (0.14-0.17 US dollars) per kilo before the ban to 17 pesos (0.29 dollars) in some parts of Mindanao, and 13-14 pesos (0.22-0.24 dollars) in major rice-producing provinces.
The cost of producing a kilo of palay is estimated at 12-14 pesos (0.21-0.24 dollars), according to Laurel.