In this study, I first summarized the shift of Japan’s agricultural policies with a focus on rice during the 44 years from 1970 to 2013. Then, I divided the 44 years into three periods and analyzed the formation factors of rice prices through the multiple regression analysis of each period. Factors that affected rice price formation differed based on shifts in agricultural policies and economic situations. In the 1970s and 1980s, the government’s purchase price of rice based on production cost affected the retail price of the voluntarily marketed rice. The production adjustment of rice farms is an importance factor that affected the bidding price of the voluntarily marketed rice between 1990 and 2003. Since 2004, the production volume and crop index of rice are important factors that affected the negotiated trading price of rice.
