News last update:Feb 25, 2016

Japan to raise support for pork farmers

Japan will expand handouts to pork and beef farmers by raising the percentage of losses covered by the government to 90 percent from 80 percent now, according to a draft of the policy outline for a Trans-Pacific Partnership (TPP) deal on Tuesday.

The government will also boost purchases of domestic rice for reserve stocks to prevent prices from falling due to new tariff-free import quotas from the United States and Australia under the TPP agreement, the draft seen by Reuters said.

Ease farmers' worries over the TPP deal

The steps are expected to ease farmers' worries over the TPP deal and an increase in imports of cheaper foreign farm products. The TPP pact still requires ratification by member countries.

The draft also said Japan aims to raise the value of farm and fishery product exports to 1 trillion yen ($8 billion) before an initial target year of 2020, versus about 612 billion yen in 2014.

Pig Progress

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