Japan raises imported wheat price by 12% amid higher global prices

Source:  Finance.biggo
Японія

Japan’s Ministry of Agriculture will raise the average government resale price of imported wheat to flour millers by 12% to ¥70,020/t for the period from October 2026 through March 2027. The price will exceed ¥70,000/t for the first time since April–September 2023 and will increase for the second consecutive pricing period.

The increase is primarily driven by higher global wheat prices. A weaker yen, rising ocean freight rates and higher fuel costs are adding further pressure to import costs. The government’s resale price for imported wheat is revised twice a year based on international market prices and exchange rate movements over the preceding six months.

Global wheat prices are being supported by supply concerns related to deteriorating US crop conditions due to drought and export problems in the Black Sea region. According to the source, Chicago wheat futures are currently trading more than 40% above year-ago levels.

The new price remains below the record ¥76,750/t reached after the start of the full-scale war in 2022. Since then, the government’s imported wheat resale price has generally remained around ¥60,000/t.

Japan imports around 80% of the wheat used for food, meaning higher procurement costs could gradually affect flour prices and wheat-based products. However, the ministry expects the direct impact of higher wheat costs on consumer prices to remain limited.

Tags: , , ,

Got additional questions?
We will be happy to assist!

Secret Link