Japan’s Current Rice Shortage Foreshadows Long-Term Problems
Japan is experiencing a shortage of the crucial staple, with an inelastic supply likely being the primary cause.
Japan is facing a rice shortage. Online sellers and grocery stores are struggling to meet the demand for this crucial staple. Historically, rice shortages have led to political instability and even riots, as seen in 1918 and more recently in 1993.
The current crisis gained national attention following the August panic buying of rice after the Japan Meteorological Association warned of a potential mega-earthquake and the need to stockpile essentials. Social media posts of empty shelves added to the urgency as people rushed to buy rice before stores ran out.
But the shortage continued beyond the panic buying, with restrictions on rice purchases stretching into September.
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Andrew Orchard is a former Mansfield Fellow. The views expressed in the article are the author’s alone and do not necessarily reflect the official policy or position of the U.S. Navy, Department of Defense, the U.S. Government, or The Maureen and Mike Mansfield Foundation.