TOKYO — Japan’s rice price has declined for the first time in 18 weeks, but market watchers are uncertain to what degree further releases from reserves and increasing imports will lower prices.
The average price of rice at supermarkets edged down 0.4% in the week to May 4 from the previous week. But at a cost of 4,214 yen ($29) for 5 kilograms, it is still double the 2,106 yen that amount cost during the same period last year, according to statistics released by the ministry of agriculture earlier this week.
