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2015.07.28

The arrival of Japanese rice in the US "The abolition of the Acreage-Reduction policy would consolidate international competitiveness of Japanese rice."

English translated version of “FISCAL & FINANCIAL BUSINESS REVIEW” on July 2015

The gap in the price of rice in domestic and overseas markets has narrowed and been reversed; the price of domestic rice has become lower than that overseas. There is a no-tariff import quota on rice, but rice is no longer being imported from China or California. If the domestic price is lower than the price overseas, there is no need to try to maintain the tariff in the TPP negotiations or to continue the Acreage-Reduction policy. This is because in such a situation Japan can increase rice production and export rice at a high price. If the Acreage-Reduction policy is abolished, the competitiveness of Japanese rice will increase due to cost reduction. Rice farming in California is facing a crisis of survival due to drought. The time has come for Japanese rice to arrive in the US...


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