Rice Prices Expected to Decline Over Next Three Months

TOKYO, Apr 06 (News On Japan) - A survey of industry participants indicates that rice prices are expected to decline over the next three months, reflecting a continued bearish outlook across the sector.

The survey, conducted among organizations comprising rice producers and wholesalers, uses an index in which values closer to 100 indicate stronger expectations of price increases.

In the March survey, the index for the three-month outlook stood at 27, remaining below the key threshold of 50 for a sixth consecutive month, suggesting that expectations of falling prices continue to dominate.

Industry officials pointed out that rice inventories have been building up, while transactions between businesses have also slowed.

According to the latest data released by the Ministry of Agriculture, Forestry and Fisheries, supermarket rice prices have also fallen for seven consecutive weeks, drawing attention to how the market will evolve in the coming months.

Source: FNN

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