During the surge in rice prices, Japan has opened its gates to import rice from South Korea for the first time in twenty years.

The price of Japanese rice has soared, opening a rare opportunity window for South Korean producers to export this staple food. An industry official from South Korea said on Monday that due to the soaring price of rice in Japan and the increased demand for foreign products, Japan has chosen to import rice from South Korea despite high tariffs, marking the first time since 1999. This import was carried out through the Japan office of the National Agricultural Cooperative Federation of South Korea (more commonly known as Nonghyup). The office stated that they have imported 2 tons of South Korean rice this month and are selling it online and in local supermarkets. Although this import volume accounts for only a tiny percentage of Japan's rice consumption, it is a bright spot for South Korea's overall exports. In April of this year, South Korea's overall exports suffered a setback due to Donald Trump's protectionist trade policies. Meanwhile, Asian countries are seeking to improve their trade relations with each other to counter the disruption of global trade order by Trump. Last month, trade ministers from South Korea, China, and Japan met in Seoul and reiterated their calls for promoting free trade. An official from the Nonghyup Tokyo office said over the phone that previously, South Korean rice did not have a price advantage due to tariffs, but now it is competitive. The official also added that this is the first such sale since the establishment of the Nonghyup Tokyo office. Nonghyup officials reported that the first batch of 2 tons of goods has been sold out, and another 20 tons are expected to arrive next week. Japan imposes a tariff of approximately 340 Japanese yen (2.408 US dollars) per kilogram on rice imports exceeding the annual duty-free quota of about 770,000 tons. In addition, Japanese consumers' preference for domestic rice and the country's complex supply chain also add to the difficulty of rice imports. However, according to data from the Japanese Ministry of Internal Affairs, last month, the price of Japanese rice for consumption increased by 92% year-on-year, the fastest rate of increase since data has been recorded since 1971, and inflation is still accelerating.