Japan's August rice price soars 23% on summer heat, quake-warning

Rice prices sold at supermarkets in Japan in August jumped 23 percent from a year earlier due to tight supply from last summer's extreme heat and a buying rush following a government advisory about a potential megaquake, a consumer data research firm reported Friday.The average price of rice per 5 kilograms last month was 2,266 yen ($16), up from 1,839 yen in August last year, also reflecting demand boosted by booming inbound tourism, according to data from True Data Inc.As newly harvested rice enters the market, supply is expected to increase, though there are concerns that prices may rema…READ FULL ARTICLE