Disaster threats trigger panic buying of rice as supply shrinks in Japan

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(Source)

The Japanese government issued a warning on Tuesday, advising people to remain calm and not panic-buy rice at supermarkets. Japan is experiencing a unprecedented decline in rice supplies, which government officials say is partly due to an increase in tourism.

  • What was the cause: Minister of Agriculture, Forestry and Fisheries Tetsushi Sakamoto said that the panic buying was triggered by a series of events, including a government warning in early August about a possible “megaquake” that could happen within the next 30 years, recent typhoons and the week-long Obon Festival, which was held from August 13 to 16. Some supermarkets are restrictive consumers one bag of rice per day per family.

  • End of the shortage: Sakamoto assured people that the shortage will be over soon, probably in September, when the newly harvested rice will be distributed. “We expect the rice shortage to gradually improve. We ask consumers to remain calm and buy only the amount of rice they need,” he said. A farmer in Aomori Prefecture echoed the same sentiment, saying Kyodo News“High temperatures make rice grow faster, but it’s going well. There was no impact from typhoons. There’s no reason to panic.”

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