00:15, 21.08.2009 — Новости
автор: OilWorld.Ru

DJ Govt Seen Cutting Prices Of Imported Wheat Again In October -Nikkei (ENG)


TOKYO (Nikkei)--The Ministry of Agriculture is considering lowering the
prices of imported wheat for a second time this year, the Nikkei reported in
its Friday edition.

  The government imports 90% of the wheat Japan consumes, selling the grain to
flour millers.  Prices are revised in April and October to reflect
international market rates.

  Global wheat prices surged from 2007 to 2008 due to higher demand in emerging
nations, droughts that hit exporting countries and inflows of speculative
funds.  As a result, the government raised prices twice in both 2007 and 2008.

  But speculative funds diminished in the wake of the financial crisis, sending
international prices lower.  Consequently, the government cut the prices of
five wheat types by an average 14.8% in April, leading to lower bread and
noodle prices.

  Under the current method of determining new prices, the reduction would be
about 20% from April.  The ministry, however, is considering using a new method
from October that would reflect changes in international prices more quickly.


  

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