Japan: Grain and Feed Update
Link to report:
FAS Tokyo estimates MY2022/23 wheat and rice production in Japan to decrease from last year's bumper crop due to poor weather conditions in major production regions. Due to favorable weather, Post estimates the MY2022/23 barley crop to increase from MY2021/22. Compound feed price has been rising and hit a record in July and FAS Tokyo forecasts MY2022/23 corn demand to soften as feed mills continue to increase rice in lieu of corn in feed rations. Because of barley’s price competitiveness against other feed grains, Post estimates that robust feed demand for barley will persists in MY2021/22 and is forecast to continue in MY22/23. FAS Tokyo projects stable MY2022/23 rice consumption as strong feed demand will offset sluggish table rice demand.
