TOKYO: The Japanese government is planning to spend around 50 billion yen out of its reserve funds to ease burdens on livestock and dairy farmers from soaring feed prices, JIJI Press learned Wednesday.

The government is expected to shortly approve the spending at a cabinet meeting.

Compound feed prices are elevated in Japan, reflecting a recent surge in the global grain market, while Japan has a system to partly cover feed costs if imported prices exceed certain levels.

Through the spending, the government will aim to keep farmers’ payments for compound feed in October-December at the same levels as in July-September.

The government will also strengthen support for dairy farmers, many of whom use coarse feed.

It plans to provide 10,000 yen per milk cow in prefectures heavily dependent on coarse feed and 7,200 yen in the northernmost prefecture of Hokkaido.

JIJI Press