January 10, 2019
Japan's beef to help lead agricultural exports to US$9 billion record
Beef will help spearhead Japan's agricultural exports to reach a target of JPY1 trillion (US$9.2 billion) in 2019, as global demand rises for sushi, sake and shochu spirits, Nikkei Asia Review reported.
Japan's beef exports could reach an annual record for 2018, with January-October shipments rising about 30% on the year to JPY18.8 billion (US$174.3 million). The freight-on-board price averaged $65 per kilogramme, with demand strong for pricey parts like sirloin in Hong Kong, Taiwan and the US.
According to Japanese Chief Secretary Yoshihide Suga, "[agricultural exports] target of one trillion yen is fully in sight" for 2019.
Exports of farm, fishery and forestry products increased 15% on the year to JPY734.1 billion's (US$6.8 billion) worth in the January-October period of 2018, the agriculture ministry said. The annual tally is likely to reach JPY900 billion (US$8.3 billion).
- Nikkei Asia Review