Latest news with #farmministry
Reuters
11-07-2025
- Health
- Reuters
Japan, China take step towards resuming Japanese beef exports to China
TOKYO, July 11 (Reuters) - Japan's farm ministry said on Friday that an animal health and quarantine agreement with China had come into force, paving the way towards the resumption of Japanese beef exports to China that had been halted in 2001. Beijing has banned beef imports from Japan since an outbreak of bovine spongiform encephalopathy (BSE), popularly known as mad-cow disease, in September 2001. The move comes as Japanese beef producers face higher tariffs for exports to the United States under President Donald Trump's reciprocal tariffs, of 25% and set to take effect on August 1. "Japan will continue discussions with China, including food safety and radiation testing, towards the resumption of Japanese beef exports to China," the ministry said. A government official said the agreement's taking effect was a major turning point for beef trade to resume while adding it was unclear when exports could actually start. China last month announced the resumption of seafood imports from some Japanese regions, ending a nearly two-year blanket ban imposed due to worries over Japan's release of treated wastewater from the Fukushima nuclear power plant.
Zawya
23-06-2025
- Business
- Zawya
Japan's retail rice prices fall below 4,000 yen, hitting prime minister's target
Japan's average retail rice prices fell below 4,000 yen ($27) for the first time in four months, data showed on Monday, after the government released an emergency stockpile of rice to tackle food inflation ahead of a national election. The supermarket price of rice per 5kg dropped by 6.1% to 3,920 yen in the seven days to June 15, marking the fourth straight week of decreases to reach a level last seen in February, according to the farm ministry. With that, Prime Minister Shigeru Ishiba achieved a target set last month to bring the price of staple Japanese grain to below 4,000 yen. Rice prices have doubled since last year, creating a political challenge for Ishiba as he faces an upper house election in late July. The vote could be critical for his coalition's chances of survival, after it lost its majority in the more powerful lower house in October. Last month, a new farm minister ended a system of distributing emergency rice via auction and switched to discretionary contracts with retailers so that consumers would pay about 2,000 yen per 5kg. That stockpiled rice first became available through some retailers on May 31, selling out quickly. Rice prices leapt in part because of a poor-quality harvest due to extreme heat in 2023, which led to a shortage of rice in the market around the middle of last year. The spike in rice costs has driven Japan's food and overall consumer inflation in recent months, data has shown, complicating the Bank of Japan's rate hike schedule as economic pressure from U.S. tariffs looms. ($1 = 147.7200 yen) (Reporting by Kantaro Komiya and Kaori Kaneko; Editing by Aidan Lewis)
Reuters
23-06-2025
- Business
- Reuters
Japan's retail rice prices fall below 4,000 yen, hitting prime minister's target
TOKYO, June 23 (Reuters) - Japan's average retail rice prices fell below 4,000 yen ($27) for the first time in four months, data showed on Monday, after the government released an emergency stockpile of rice to tackle food inflation ahead of a national election. The supermarket price of rice per 5kg dropped by 6.1% to 3,920 yen in the seven days to June 15, marking the fourth straight week of decreases to reach a level last seen in February, according to the farm ministry. With that, Prime Minister Shigeru Ishiba achieved a target set last month to bring the price of staple Japanese grain to below 4,000 yen. Rice prices have doubled since last year, creating a political challenge for Ishiba as he faces an upper house election in late July. The vote could be critical for his coalition's chances of survival, after it lost its majority in the more powerful lower house in October. Last month, a new farm minister ended a system of distributing emergency rice via auction and switched to discretionary contracts with retailers so that consumers would pay about 2,000 yen per 5kg. That stockpiled rice first became available through some retailers on May 31, selling out quickly. Rice prices leapt in part because of a poor-quality harvest due to extreme heat in 2023, which led to a shortage of rice in the market around the middle of last year. The spike in rice costs has driven Japan's food and overall consumer inflation in recent months, data has shown, complicating the Bank of Japan's rate hike schedule as economic pressure from U.S. tariffs looms. ($1 = 147.7200 yen)
CNA
23-06-2025
- Business
- CNA
Japan's retail rice prices fall below 4,000 yen, hitting prime minister's target
TOKYO :Japan's average retail rice prices fell below 4,000 yen ($27) for the first time in four months, data showed on Monday, after the government released an emergency stockpile of rice to tackle food inflation ahead of a national election. The supermarket price of rice per 5kg dropped by 6.1 per cent to 3,920 yen in the seven days to June 15, marking the fourth straight week of decreases to reach a level last seen in February, according to the farm ministry. With that, Prime Minister Shigeru Ishiba achieved a target set last month to bring the price of staple Japanese grain to below 4,000 yen. Rice prices have doubled since last year, creating a political challenge for Ishiba as he faces an upper house election in late July. The vote could be critical for his coalition's chances of survival, after it lost its majority in the more powerful lower house in October. Last month, a new farm minister ended a system of distributing emergency rice via auction and switched to discretionary contracts with retailers so that consumers would pay about 2,000 yen per 5kg. That stockpiled rice first became available through some retailers on May 31, selling out quickly. Rice prices leapt in part because of a poor-quality harvest due to extreme heat in 2023, which led to a shortage of rice in the market around the middle of last year. The spike in rice costs has driven Japan's food and overall consumer inflation in recent months, data has shown, complicating the Bank of Japan's rate hike schedule as economic pressure from U.S. tariffs looms. ($1 = 147.7200 yen)
Reuters
16-06-2025
- Business
- Reuters
Japan supermarket rice prices fall for third straight week
TOKYO, June 16 (Reuters) - Japan's average supermarket rice prices fell for the third straight week through June 8, data showed on Monday, reflecting the release of cut-price grain from the government's emergency stockpile. Following a surge in the price of rice in Japan, a new farm minister last month ended a system of distributing emergency rice via auction and switched to discretionary contracts directly with retailers so that consumers would pay about 2,000 yen ($13.85) per 5 kg. That rice first became available through some retailers on May 31, selling out quickly. For the seven days to June 8, the average price of rice at supermarkets fell by 48 yen from the previous week to 4,176 yen, the farm ministry said. That is still nearly double prices the same time last year and above where Prime Minister Shigeru Ishiba has said they should be. Policymakers are particularly anxious about the high prices ahead of an upper house election in late July. Rice prices leapt in part because of a poor-quality harvest due to extreme heat in 2023, which led to a shortage of rice in the market around the middle of last year. The government said at the time there was no shortage and predicted that prices would stabilise as the new harvest became available. Instead, however, prices continued to rise. Farm Minister Shinjiro Koizumi, who took his post last month, said the ministry would change the way it surveys rice production to better reflect reality and that the government had miscalculated because of an antiquated system. "We will improve the accuracy of rice yield surveys by using the latest technology such as satellites and AI," Koizumi told reporters. ($1=144.45 yen)
