New Rice Cheaper than Old rice... “Price Reversal” Due to Excess Rice Rice Stores that Have a Lot of Inventory “Want to Sell New Rice, Not Old rice...” Niigata

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While new rice is on the market, stocks of rice produced last year, so-called “old rice,” continue to be high. New rice is cheaper than old rice, and a price reversal phenomenon is also occurring. Nogami Rice is a wholesale and retail store of rice in Nagaoka City, Niigata Prefecture. [Chairman Nogami Shigeru Nogami] “This is the brown rice warehouse. What was piled up in the brown rice warehouse that “has more stock than normal” is rice produce…