TOKYO, Nov. 20 (Xinhua) -- Rice prices in Japan reached a record high in October, with newly harvested rice sold to wholesalers by farming cooperatives and other suppliers averaging 23,820 yen (about 153.8 U.S. dollars) per 60 kilograms, according to the agriculture ministry.

This marks a 57-percent increase compared to the same period last year and surpasses the previous record set in September, the data showed Tuesday.

The ministry attributes the price surge to higher payments made by agricultural cooperatives to farmers, as well as intense competition among organizations vying to secure rice supplies.

Retail rice sales at supermarkets and other outlets have been declining since late September. The ministry says it will closely monitor retail prices to assess the broader effects on consumers. Enditem

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