Tough times for Japan’s curry shops as surging rice prices fuel bankruptcies
The rising cost of ingredients has also crippled eateries as the government pledged to consider ‘all options’ to tackle the rice crisis
Thirteen curry shops with more than 10 million yen (US$70,000) in debt filed for bankruptcy in the year ending in March – marking a record high for the second consecutive year, according to a report from Tokyo-based research firm Teikoku Databank. The total number of bankruptcies is likely much higher when considering smaller family-run shops, Teikoku said.
Prices of mainstay ingredients in Japanese curry – such as rice, spices, meat and vegetables – have gone up due to a rice shortage, adverse weather and a weak yen, the report said. Higher energy prices have also dented the profits of shop operators.
Japanese curry, a thick brown sauce containing meat and vegetables, is usually served on a bed of rice. A basic curry rice dish, a classic comfort food, now costs 365 yen (US$2.50) – a record high, according to Teikoku.
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During the coronavirus pandemic, takeaway and delivery orders had fuelled a curry boom – that has now also slowed and hurt sales for curry shops, Teikoku said.