Japan's rice inventory hits record low as tourism boom boosts demand

Japan's rice inventory in the private sector dropped to 1.56 million tons in June, the lowest since comparable data began in 1999 and a decrease of about 20 percent from a year ago, the farm ministry said Tuesday, with surging inbound tourism driving up demand and last year's summer heat affecting the crop.With high temperatures continuing this summer, there are concerns that the inventory may further decline and lead to price hikes.While the annual demand for rice had been declining in Japan due to its shrinking population, preliminary data showed that domestic demand for the year through …READ FULL ARTICLE