Japan rice prices fall for first time in 18 weeks

Japan's average price of rice has fallen for the first time after rising for 17 consecutive weeks, government data showed Monday, though it remains near record high amid ongoing supply concerns.

Latest data from Japan's Ministry of Agriculture, Forestry and Fisheries showed that in the week to May 4, the average price of rice sold in supermarkets nationwide fell 0.4 percent from the previous week to 4,214 yen (about 29 U.S. dollars) per five kilograms (kg).

"If imported rice tastes good and is more affordable, people might go for it," said a consumer.

"If a five-kg bag of rice went back down to around 2,000 yen (about 14 U.S. dollars), it would be much easier for my budget. Right now, I can barely afford it," said another customer.

To rein in the rising prices, the Japanese government started releasing reserve rice into the market in March, with plans to continue this monthly through July.

However, many stores have yet to receive the cheaper stockpiled rice, and regular five-kg bags remain expensive.

"We don't know how much of the reserve rice has actually made it into the market. So far, we haven't received any," said a supermarket manager in the Tokyo metropolitan area.

According to Kyodo News, the government plans to roughly double the supply of stockpiled rice to about 600,000 tons and relax bidding conditions for the purchase of its reserve rice, as rice prices remain at near record highs.

With prices staying high, several rice-growing regions have expanded their planting areas this year. But industry experts caution that Japan's farming population and ongoing labor shortages make a large-scale production increase unlikely in the near future.

Meanwhile, the National Federation of Agricultural Cooperative Associations, Japan's largest group of rice collectors and wholesalers, has raised prepayments for autumn rice harvests by 30 to 40 percent in several major production areas -- a sign that prices may rise further later this year.

Japan rice prices fall for first time in 18 weeks

Japan rice prices fall for first time in 18 weeks

Protesters filled Mexico City's Paseo de la Reforma on Saturday, rallying in solidarity with Venezuela and denouncing U.S. influence in Latin America.

The United States launched a large-scale military operation against Venezuela in the early hours of Jan 3, taking by force Venezuelan President Nicolas Maduro and his wife, Cilia Flores.

Holding numerous flags and banners while chanting slogans intermittently, a huge crowd of protesters criticized U.S. military actions against Venezuela and the unlawful control over President Maduro and his spouse, calling for respect for national sovereignty and regional peace.

"We oppose the U.S. intervention and hegemony towards the countries in Latin America. The United States has flagrantly trampled on international law, bombed Caracas and kidnapped the Maduro couple. The U.S. interventionism has become extremely blatant. We must firmly oppose and be highly vigilant, because this is not only related to a certain country, but also to all countries," said a protester.

"We demand that the United States stop interfering in Venezuela's internal affairs. The country must immediately cease its exploitation and plundering of the countries in Latin America," said another protester.

Protest erupts in Mexico City over US military operation in Venezuela