Agricultural Ministry holds meeting on rice shortage in stores

The agriculture ministry Wednesday held a meeting with farmers, agricultural cooperatives, wholesalers and food makers to exchange opinions about the shortage of rice in stores.
Participants shared information about current rice inventories and sales outlooks with an aim to ensure smooth distribution of rice.
The ministry explained that the overall supply-demand balance for rice is not tight.
A farmer said that there is no choice but to raise prices due to soaring costs and that “prices are getting closer to fair levels.”
A wholesaler said that “if rice prices remain elevated, consumption would decline.”
As of the end of June, private-sector rice inventories in the country stood at 1.56 million metric tons, the lowest since comparable data became available in 1999.
In August, it was difficult to buy rice in some areas and stores after people rushed to stockpile rice after a warning was issued against a possible huge earthquake in the Nankai Trough off Japan’s Pacific coast.