Japan average rice price down for 6th straight week

The average price of rice sold at about 1,000 supermarkets across Japan in the week through June 29 stood at 3,672 yen per 5 kilograms, falling for the sixth straight week, the agriculture ministry said Monday.

The average price was down 129 yen from the previous week and below 3,700 yen for the first time in 21 weeks. It dropped by over 100 yen for the third successive week.

An increase in sales of government-stockpiled rice released under discretionary contracts is believed to be behind the price fall.

The average price stood 62.8 pct higher than a year before, but the year-on-year difference was the smallest since last October, at 1,416 yen.

Although the decrease was smaller than for all rice, the average price of 5-kilogram single-origin brand rice fell 51 yen from the previous week to 4,290 yen.