This kanji means rice. Depending on its use, it is generally pronounced “kome” or “mai”. The sake category names junmai and junmai daiginjo both include the kanji (mai reading) for rice. You can see this kanji on the label if the sake is made from 100% rice, without the addition of distilled alcohol.
The kanji for rice, when considered literally, reads as “88”. This refers to the number of steps required to raise rice. As it indicates, rice growing is an intensive process and growers overcome a lot of difficulties before harvest.