Prices of rice sold from March 23 through Sunday in Japan averaged ?3,935 per 5 kilograms, down ?43 from the previous week, marking a seventh straight weekly decline, the agriculture ministry said Friday.
The average price is based on sales at about 1,000 supermarkets nationwide. The figure dipped below year-before levels, when prices climbed into the ?4,000 range and government stockpiles began to be released.
By category, the average price of branded rice dropped ?83 to ?4,005 per 5 kg, while that of blended rice rose ?27 to ?3,703, marking its first increase in seven weeks.
The share of branded rice in total sales climbed 4 percentage points to 77%.
Private-sector rice inventories are projected at 2.21 million to 2.34 million tons by the end of June, exceeding the appropriate range of 1.8 million to 2 million tons.
As supply-demand conditions ease, downward price pressure is emerging in interdealer rice transactions as well.
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