TOKYO: Japan’s exports of agricultural products are on track to hit a record annual high, amid the depreciating yen and rebounding global demand fueled by receding pandemic concerns.
Exports of agricultural, forestry, and fishery products and food hit ¥1.12 trillion (US$8.34 billion) for the 10 months through October, marking the second time ever that the figure has passed the ¥1 trillion mark.
The first time agricultural exports reached that milestone came in 2021, when exports for the full year totalled ¥1.23 trillion. The latest data indicates it is almost certain that exports this year will surpass 2021’s total. Tokyo has set a goal of ¥2 trillion in exports by 2025.
Exports from January to October this year increased by ¥148.6 billion yen – or 15.3% – compared to last year, the ministry of agriculture, forestry and fisheries announced on Monday. China, where Japanese scallops and alcoholic beverages are particularly popular, was the largest buyer of agricultural goods with ¥229.3 billion in imports – up 24.5% compared to 2021.
The US followed with some ¥165.5 billion in imports, a 20.8% increase on last year’s figure. In both the US and Europe, dining out is on the rebound as pandemic concerns wane.
At a ministry meeting on Monday, the government announced a new strategy to increase the number of production areas that can comply with regulations at export destinations related to food safety and quarantines.
Entities including prefectural governments, regional trading companies and the Japan Agricultural Cooperatives group will work together to develop a system to support compliance, the government said.
When exporting apples to Thailand or the US, for example, it is necessary to register the orchard that produced the apples and ensure that the produce meets the importing countries’ standards for residual pesticides.
At the ministry meeting, officials decided to add Japanese koi to the list of priority items that have room for export expansion. The brightly coloured fish is popular overseas for display purposes.
When an item is designated as a priority for exports, domestic producers in Japan form a group that works together to maximise exports. At the ministry meeting, four new groups were established to promote 11 priority items. Among the 28 items previously designated are beef, scallops and whiskey.
Japan continues to face barriers to expanding its exports due to import restrictions in some countries that were imposed following the 2011 disaster at the Fukushima Daiichi nuclear power plant. Indonesia and the UK both lifted their restrictions this year, but limits remain in 12 other countries and regions, including China – Japan’s largest export partner.
In mid-November, Japanese prime minister Fumio Kishida asked President Xi Jinping of China to remove the restrictions as soon as possible.
The government plans to release treated wastewater from the Fukushima plant into the ocean in the spring of 2023, a decision that has drawn sharp criticism from the fishing community and environmental groups.