Japan: Japan Ag Ministry 2021 Budget Signals Shift to Exports
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The Government of Japan’s 2020 third supplementary budget allocates 1.05 trillion yen ($10 billion) to the Ministry of Agriculture, Forestry and Fisheries (MAFF) to fund trade agreement countermeasures, continuation of COVID-19 economic relief support programs, and disaster preparedness and land reinforcement measures. Highlights from the supplementary budget include new support payments to encourage the conversion of acres away from table rice to other products, the continuation of support payments for the export of perishable products, and the establishment of a livestock products export consortium. MAFF is also expected to receive 2.31 trillion yen ($22.2 billion) for its 2021 budget, down 4.4 percent from last year.
Japan: Japan Ag Ministry 2021 Budget Signals Shift to Exports
