Japan to cut imported wheat prices to millers by 7.9 pct
07/09/2016 10:00
TOKYO, Sept 7 (Reuters) - Japan will sell imported wheat to
domestic millers at an average price of 48,470 yen ($477) per
tonne in October-March, down 7.9 percent from the previous
six-month period, the farm ministry said on Wednesday.
The move reflects a stronger yen, which helped keep import
costs down, and lower international prices amid plenty of global
stocks, the ministry said in a statement.
Japan, the world's sixth-biggest wheat importer, buys most
of its milling grain through import tenders for five types of
wheat from Australia, Canada and the United States and sells it
to domestic millers at prices set twice a year.
The farm ministry's wheat selling price was set at an
average of 52,610 yen for the six months ending this month, the
Ministry of Agriculture, Forestry and Fisheries said in a
statement on its website.
($1 = 101.6000 yen)
(Reporting by Osamu Tsukimori; Editing by Sherry
Jacob-Phillips)
((osamu.tsukimori@thomsonreuters.com; +813 6441 1857; Reuters
Messaging: osamu.tsukimori.thomsonreuters.com@reuters.net))
Keywords: JAPAN WHEAT/PRICES