News
19.05.2009
Japan soya imports 3.9 million tonnes
Following are selected highlights from a report issued by a US Department of Agriculture attache in Japan. "In a year which some countries placed export restriction of agricultural commodities, the United States remained as an important and stable supplier of soyabeans to Japan in CY2008.
The Japanese oilseed industry faced a very difficult time in 2008 due to the hike in commodity prices and fleet costs as the country produces a small proportion of its edible oil, approximately 6% of soyabean and 0% of canola. The United States provided 2.7 mmt, 71% of soyabean supply. Brazil, Canada and China supplied 0.56, 0.33 and 0.09 mmt, respectively.
Currently, the economic downturn is preventing the food industry in general from passing on high production costs to consumers. Japan's soyabean imports in CY2008 were approximately 3.6 mmt, down from 3.9 mmt in CY2007. The value of imports, however, increased to 2,359 million USD in CY2008 from 1,664 million USD in CY2007. The United States supplied 2.7 mmt of soyabean in 2008, a significant drop from 3.3 mmt in 2007, but still enough to capture 71 percent of the import market."
Reuters
