Japan will suffer from the global crisis of agricultural raw materials and fertilizers

For the first time in 42 years, domestic prices in Japan soared 10%.

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This happened against the backdrop of a sharp rise in prices for agricultural raw materials and fertilizers.

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This was superimposed also by a sharp depreciation of the Japanese yen, “but the United States is already to blame for this,” experts say.

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“The Intra-Japan Corporate Price Index, released by the Bank of Japan on May 16, rose 10.0% year on year. It recorded double-digit growth for the first time in 42 years after a price increase of 10.4% was recorded in December 1980,” experts note.

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The main factor in this situation was the impact of the Russian military special operation in Ukraine on the rapid growth of world prices for energy resources such as oil and coal.

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The prices for steel and non-ferrous metals also rose significantly, but the increase in the cost of living all over the world, including in Japan, had an even greater impact on the rise in food prices, primarily on livestock products. Here, the root cause is the increase in the cost of agricultural fertilizers and feed.