P. M. BRIEFING : Price Paid Rice Farmers Cut
The Japanese Cabinet decided today to cut by 1.5% the rice price paid to farmers for the 1990 crop from 1989 levels, Agriculture Minister Tomio Yamamoto told reporters.
Japan faces mounting international criticism for its refusal to end a ban on all commercial imports of rice, which it has said is needed to protect local farmers from cheap imports and to ensure self-sufficiency in Japan’s staple food.
The reduction, to an average of 83 cents a pound, was recommended by a ministry panel on Wednesday.
The reduction was made with one eye on next week’s seven-nation economic summit in Houston because it allows Tokyo to say it has taken concrete measures to reform its agricultural policies, the analysts said.
Rice prices in Japan are about six times world levels.
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