Japan sets its price demands for imported wheat to the mill company in the country for the delivery period October 2016 to March 2017 on an average price of 48.470 yen (477 USD) per tonne. 7.9% are less than in the last six months.
The Agriculture Ministry justified his decision today on its homepage, so that the exchange rate of the yen is strong and thus the cost of imports remain low. Moreover, global stocks are huge and the prices on the international market low.
Japan is the world's sixth largest importer of wheat. The Ministry of agriculture purchases usually grinding wheat in five different qualities from the countries of Australia, Canada and the United States by means of tenders. This wheat will be sold to local milling companies to predetermined prices. The price fixing is done twice a year.
For the previous six-month period it had demanded a price to 52.610 yen.
