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Economic news / Економічні новини

News of economy, energy, trade, finance / Новини економіки, енергетики, торгівлі, фінансів

Japanese farmers found a way to capitalize on the Ukrainian crisis


Чер 14, 2022

Farmers in most prefectures in Japan have said they plan to start growing wheat and soybeans instead of rice due to high prices on world markets. Japan Today writes about this, citing a government survey conducted in all regions of the country.

According to the publication, such a decision was made by farmers in 37 out of 47 Japanese prefectures. They found the sharp increase in the cost of grain, which arose against the backdrop of the Ukrainian crisis, a good way to increase their income. In total, farmers plan to allocate about 35,000 hectares for new crops.

“More farmers are switching to wheat and soybeans as global prices rise. In addition, the demand in the countries producing them is already at a high level,” explains the portal.

Journalists note that until 2022, about 80 percent of the wheat and 90 percent of the soybeans consumed in Japan were imported. Thus, crops grown in the future can primarily saturate the domestic market.

Earlier, German Foreign Minister Annalena Berbock said that about 25 million tons of grain were blocked in Ukrainian ports, in particular Odessa, and could not be exported. The Minister assured that the food crisis due to hostilities has become global and could worsen.