Jiji Press TOKYO (Jiji Press) — Japan’s agriculture ministry said Tuesday that it will raise the prices of imported wheat it sells to the private sector by 3.5 percent on April 1.
The weighted average price of five wheat brands will be raised from ¥52,510 to ¥54,370 per ton. The price was decided based on average buying prices in the past six months.
If the hike is passed on to retail goods, the price of a loaf of bread will go up by ¥0.4, according to the ministry.
The hike reflects increases in international wheat prices and transport costs mirroring higher fuel prices, and the yen’s weakening.
In the country, the government exclusively imports foreign wheat and sells it to the private sector, including flour mills. Prices are reviewed in April and October every year.