Tokyo, Sept. 9 (Jiji Press)–Japan’s agriculture ministry said Wednesday that it will sell from Oct. 1 imported wheat to domestic milling firms and other buyers at prices 4.3 pct lower than the current levels.
The ministry, the sole wheat importer, will cut the wholesale prices on the back of drops in the international market prices on envisaged good harvests in Australia and in shipping fees reflecting slower demand amid the coronavirus pandemic.
Through the markdown, the weighted average of the five wheat brands’ selling prices will come to 49,210 yen per ton. As a result, retail bread prices would go down by 0.4 yen per loaf, ministry officials said.
The ministry reviews wholesale prices of imported wheat every April and October.