Japanese farmers face difficulties due to sharp increase in fertilizer and grain prices

Price cereals is increasing sharply due to a decline in imports from Russia and Ukraine, thereby pushing up the price of mixed feed, while many producers are unable to pass these increased costs on to consumers. use.

Grain prices have increased as crops fail due to drought. To make matters worse, Russia-Ukraine tensions have raised supply concerns, sending wheat futures on the Chicago Mercantile Exchange to a record high for the first time in 14 years. past year. The price of synthetic animal feed also increased sharply.

Besides, fertilizers were also affected by the sharp increase in prices of raw materials, including phosphorus and potassium.

Japan buys about 90% of its phosphorus from China. The price of phosphorus has increased since China restricted its exports.

Meanwhile, Russia and Belarus together account for 25% of Japan’s potassium imports, so the country needs to find alternative sources.

The National Federation of Agricultural Cooperative Organizations of Japan (Zen-Noh) has begun purchasing phosphorus from Morocco. Zen-Noh intends to raise fertilizer prices from the fall, while global prices of fertilizer ingredients are expected to remain high.

The Japanese government intends to include funding for stabilizing food prices in a comprehensive package of emergency measures to deal with rising prices, expected to be developed this month.

Prices skyrocket in Japan

VTV.vn – In Japan, the weak yen, along with high oil prices, causes production costs to increase, pushing the selling price of products higher, and essential commodities also increasing day by day.

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