Japan: Grain and Feed Update
Link to report:
FAS Tokyo estimates MY2020/21 corn imports will be 15.5 million tons, down 2.4 percent from the previous year due to high global corn prices. FAS Tokyo forecasts MY2021/22 imports to recover to 15.7 million tons. The MY2021/22 wheat and barley harvest concluded with above-average yield estimates, which FAS Tokyo expects to result in sluggish MY2021/22 imports of 5.4 million tons and 1.15 million tons respectively. FAS Tokyo estimates MY2020/21 sorghum imports to decrease to 300,000 tons and MY2021/22 imports to drop further to 200,000 tons due to a shift in favor of rice for feed. High corn and sorghum prices have driven demand for rice in Japan's compound feed mix. FAS Tokyo projects MY2020/21 rice consumption to increase slightly to 8.3 million tons as feed consumption is expected to more than offset declines in table rice consumption.
