SAPPORO – Hokkaido has announced its estimates of the impact of the Japan-U.S. trade agreement and the Trans-Pacific Partnership (TPP) on Hokkaido’s agriculture, forestry, and fisheries production and shipments. Hokkaido production and shipments will decline by up to 51.8 billion yen with the slump in prices due to the tariff reductions.
The TPP multilateral trade pact became the TPP 11 with the withdrawal of the United States.
Hokkaido production and shipments will decrease by between 35.2 billion and 51.8 billion yen. Agriculture and livestock production is forecast to see a decrease of between 33.4 billion and 49.6 billion yen. Of agriculture and livestock products, the dip will be greatest for milk and dairy products (between 16.8 billion and 25 billion yen), which will account for half of the total decline. Next were beef (between 6.7 billion and 13.4 billion yen), sugar (4.4 billion yen), and wheat (4.2 billion yen). Fisheries shipments are expected to see a decline of between 300 million and 700 million yen. Of fisheries products, cod is forecast to see the largest drop (between 200 million and 400 million yen). Squid and dried squid was next (between 100 and 200 million yen). The impact on forestry products is estimated at 1.5 billion yen.