Japan boosts Russian grain imports – data

Japan's imports of Russian grain jumped by 554.8% in April compared to the same period of last year, according to data released last week by Tokyo’s Finance Ministry.

Domestic demand for wheat alone in Japan amounts to some 5.6 million tons annually, with 90% of the produce being imported, according to the ministry.

Despite the increase, Tokyo's overall imports from Russia fell by 61.9% year-on-year in April. Japan, a member of the G7, has supported sanctions against its neighbor over the conflict in Ukraine, in lockstep with its Western allies.

Imports of Russian vegetables dropped by 75.1%, fish and seafood declined by 31.4%, coal slumped by 80.8% and liquefied natural gas (LNG) was down by 10.6%. Imports of iron and steel from Russia decreased by 35.8%, and non-ferrous metals by 68.1%, the data showed.

Meanwhile, Russia harvested a record grain crop last year, with exports expected to reach 55 to 60 million tons in 2022-2023. Russian farmers have gathered more than 150 million tons of grain including over 100 million tons of wheat.

This year, Russia is expected to retain its position as the world's largest wheat exporter despite Western sanctions.

Source: Russia Today