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Japan’s farm, fishery exports mark 10th record-breaking year in 2022

Tokyo, Feb 3 (IANS) Japan’s agricultural, fishery and forestry product exports rose 14.3 per cent in 2022 from a year earlier to a record 1.4 trillion yen ($10.88 billion), marking a 10th straight record-breaking year, according to a government report released on Friday.

The government indicated that the bumper exports in the recording period were due to dining industries in foreign countries recovering from the Covid-19 pandemic, which saw demand rise, while the yen’s weakness added support, reports Xinhua news agency.

According to the Ministry of Agriculture, Forestry and Fisheries, agricultural product exports comprised a record 887 billion yen, with fishery and forestry-related items booking their best-ever results, rising 387.3 billion yen and 63.8 billion yen, respectively.

Exports of scallops, the Ministry said, were particularly strong, surging 42.4 per cent from a year earlier to 91 billion yen, with China and the US as major destinations.

Alcoholic beverages also posted upbeat results, with Japanese whiskey and sake exports increasing 21.5 per cent to 56 billion yen and 18.2 per cent to 47.4 billion yen, respectively.

Owing to falling yields, exports of tuna and mackerel decreased in the reporting period, the ministry said, as did shipments of beef, which dropped 4 per cent to 52 billion yen, as rising prices hurt consumption.

The Regional Comprehensive Economic Partnership (RCEP), a free trade agreement in the Asia-Pacific comprising 15 nations including Japan, Australia, China, Singapore and South Korea, which took effect in 2022, helped lift exports to a notable degree, the Ministry added.

Prime Minister Fumio Kishida’s government has set a target of the country’s agricultural and fishery exports reaching 2 trillion yen by 2025 and 5 trillion yen by 2030.