TOKYO (Pakistan Point News / Sputnik - 18th July, 2023) The government of Japan does not expect any problems with imports of grain after Russia terminated the Black Sea grain deal but is concerned that global prices on agricultural production will go up, Japan's Minister of Agriculture, Forestry and Fisheries Tetsuro Nomura said on Tuesday.
On Monday, the Black Sea Grain Initiative, which provided for a humanitarian corridor to allow exports of Ukrainian grain over past year, expired as Russia did not extend its participation. Moscow has been repeatedly critical that the deal's provisions pertaining to Russia had not been fulfilled.
"There are some concerns that not extending (the grain deal) may affect global prices on wheat, corn and other grains as well as global food supply. The question arises whether prices will grow," the minister said at a press conference, adding that "Ukrainian import of grain (to Japan) is small, and that is why there will be no immediate impact on direct grain supply to Japan."
Nisshin Flour Milling, the largest flour producer in Japan, told Japanese TBS tv that "despite the fact that there are some concerns over price fluctuations in the global market, no problems are expected in the Japanese market in the shot-term because the government revises prices on imported grain twice a year."
Japan's grain imports come mostly from Canada, Australia and the United States.
