Rice crisis: Japan imports grain from South Korea for first time in more than 25 years
Summary
Japan has imported rice from South Korea for the first time in a quarter of a century in an attempt to address soaring prices and growing consumer anger. The price of Japan-grown rice has more than doubled since this time last year, fuelling demand for cheaper foreign grain, despite the heavy tariffs imposed on imports. South Korea’s rice exports to Japan are expected to reach their highest since 1990, according to the Yonhap news agency, while the crisis has also opened up potential export opportunities for producers in the US. The trend has forced the Japanese government to take the unusual step of dipping into its vast rice reserves. Last week the agriculture ministry said “logistical problems” meant only a tiny quantity of the released rice had reached shops.