Agriculture Ministry Asks For About 820 Bil. Yen In Supplementary Budget
NHK has learned the Japanese government will ask for about 820 billion yen, or 5.5 billion dollars, in a supplementary budget to safeguard the country's fertilizer and grain supply, among other issues. This comes as the depreciation of the yen and Russia's invasion of Ukraine have jeopardized Japan's ability to procure the items.
The Agriculture, Forestry and Fisheries Ministry is expected to allocate about 164 billion yen, or 1.1 billion dollars, of the total to ensuring food security. This includes funds for a project to turn rice paddies into wheat and soybean fields.
The ministry is expected to set aside about 112 billion yen, or 760 million dollars, to efforts to fight inflation. Part of that will go to a program compensating livestock and fish farmers for an increase in feed prices.
The ministry also plans to earmark about 42 billion yen, or 285 million dollars, for farmers and companies to improve their facilities, among other projects.