The Japanese government will reduce the selling price of imported wheat by more than 10% for the first time in the last three years, as the world market remains stable. This information was provided by the Ministry of Agriculture, Forestry and Fisheries of Japan.
It is reported that starting from October, the price of one ton of wheat will be 68.2 thousand yen ($460), which is 11.1% lower than the average price from April to September.
The Nikkei newspaper notes that Japan imports approximately 80% of the total wheat needed to meet consumer demand. The government reviews the prices of five types of grains in April and October, based on global prices, exchange rates, and other factors.